Seller’s Market in the Tri-Cities?
Posted on 13. Feb, 2007 by Cari McGee in Buyers, Sellers, Tri-Cities Market
Yes and no…I took at look at the absorption rate over the last 3 months, for houses only in the $175,000 to $195,000 range, across the four main cities. Our exisiting inventory will last only 2.6 months at the current rate! The breakdown is as follows…0-4 months is a seller’s market, 5-6 months is average, 7+ months of inventory is a buyer’s market. Admittedly, it’s a very small section of the MLS, so I can’t make a major leap and declare a seller’s market, market-wide. But if you’re putting in an offer on an average-priced home here in the Tri-Cities, don’t bother making it for a ton less. It’s highly unlikely you’ll get it for that price!
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