Is it a Buyer's, Seller's, or Balanced Market?

Raise your hand if you have a case of whiplash when it comes to the real estate market these days? (Me, hand raised.)

Are you trying to sift all the info and figure out what’s REALLY going on in and around the Corsicana area? 

Stop already. I got you covered. 

Remember…

A BUYER’S MARKET is when there are more homes available than buyers looking.

A SELLER’S MARKET is when there are more buyers looking than homes available.

In general, it’s a seller’s market if inventory is adequate for 5 months (or less) worth of sales. If you have 5 to 7 months of inventory, you have a balanced market, and anytime you have more than seven months’ worth of inventory, you’re in a buyer’s market.

Let's see what that means in Corsicana & Navarro County.

To determine inventory, we take the number of houses for sale and divide it by the number of sales in the past 30 days.

- Homes currently on the market (inventory): 161

- Homes sold last month (sales): 33

-Divide those and you get 4.87 months, rounded to 5 months, of inventory. That puts us — at least for today — in a balanced market. 

If you want to talk more about what’s happening in Corsicana this winter, send us a DM. No matter the market, we are here to help you reach your real estate goals!

Here are some numbers for:

Freestone County:

Active Homes on the Market: 57

Closed Homes within the last 30 days: 5

Divided by one another- Home Inventory: 11.4 Months (Buyer's Market)

Ellis County:

Active Homes on the Market: 848

Closed Homes within the last 30 days: 200

Divided by one another- Home Inventory: 4.24 Months (Seller's Market headed towards Balanced Market)