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How do you know when it is a buyer's, seller's or balanced market?

Did you ever wonder how a seller's market, buyer's market or a balanced market is determined? This months statistics will show you all three markets in Ormond Beach, FL from single family to condo styles and from location mainland to beachside.

Using February 2024 stats for Ormond Beach, FL:

Ormond Beach mainland single family represents a seller's market because the inventory is under 5 months. This is the best time to sell when there is not enough inventory for the demand. A seller's market creates higher prices, less time on the market and competition amongst buyers.

Ormond Beach beachside single family market represents a balanced market, not a buyer's or seller's market. This market is advantagious to both buyer and seller. Pricing should be stable with the perfect amount of inventory.

Ormond Beach beachside condo market is in a buyer's market because the inventory is over 7 months. What happens in a buyer's market? Real estate prices decrease and homes linger on the market longer. It is an ideal time to purchase a property.

Using these tools is advantageous in negotiations, I am here to help.

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