Last month’s real estate market looked great for Canton home sellers: Inventory was low, buyers were out looking for homes, and sellers reaped the benefits. It’s the same case with the Canton housing market today. Looking at all residential real estate options based on recent home sales, there is a greater demand and lower supply for homes, indicating that it’s a seller’s market.
Summer Means Canton Buyers are Searching for Pools
But let’s take a closer look. The graph below shows all available homes for sale in Canton compared with the homes sold in the past 30 days. The first column shows the available vs. sold listings for all real estate options, while the following columns show the market for Canton homes with special features, such as pools and walkout basements.
Homes with pools continue to be a hot feature in Canton as summertime buyers are looking for a new place. Golf course homes are another popular search topic based on available vs. sold listings, though there have only been 8 home sales in the past month.
Supply and Demand for These Homes
As we have discussed in our previous Canton real estate updates, months of supply is a good indicator of current market conditions.
To recap, the number of months of supply, or how many months it would take to sell all current real estate listings if no new listings were added, can be found by dividing the current number of homes available by the number of homes that have been sold recently.
There are just over 2 months of supply for all homes in Canton — indicative of a seller’s market — and less than 1.5 months of supply for homes with pools and homes on the golf course. It’s more of a neutral market for homes with walkout basements (approximately 5 months of supply) and a buyer’s market for new construction homes (approximately 20.5 months of supply).
What is the Best Time to Sell a Home?
This question may be running through your mind as you research Canton real estate market conditions and neighborhood sold reports. Timing the market is the only way to earn the most money when you sell — right?
Actually, pricing your home right and using the best home marketing strategies is key to getting more money for your home sale. There is no true “best time” to sell. We would be happy to answer all your questions about selling your home.
We’ll Help You Sell Your Home in Canton
In the past 32 years, over 3,800 families have chosen Bittinger Team, REALTORS® to help buy or sell a home in the Canton area. We have provided the most up-to-date market stats, a Sneak Peek home sale program, ways to find qualified buyers, a comprehensive Marketing Preparation Guide, and more services for our sellers, all to help you sell your home quickly, easily, and for more money.
Let’s talk. You can call us at (734) 459-2600 or email us at team@bittinger.com anytime.