If you are researching Canton’s current real estate market conditions to better understand how they can impact you, you are off to a great start. Trends in the local housing market can help you make a confident decision and keep more money at closing, whether you are buying or selling a home.
Finding Real Estate Trends from Recently Sold Homes
How quickly homes have sold in the past can tell us how quickly homes could sell in the future, and whether buyers or sellers benefit financially.
In our previous real estate market updates, we discussed how months of supply indicates whether a buyer or a seller can receive the best deal on a home. When there are fewer months of supply for homes (a seller’s market), that means there is high demand and low supply, and sellers can often earn more money at closing.
It’s a Seller’s Market for These Popular Searches
Let’s take a look at the real estate trends for the most popular home searches, including new construction and homes with walkout basements.
Based on the months of supply, sellers are more likely to earn the highest return for these properties, since these homes are selling quickly:
- Homes over an acre: 4 months of supply (4.3 in June 2016)
- Homes with a swimming pool: 1.5 months of supply (1.3 in June 2016)
- Homes in a golf community: 1.4 months of supply (1.3 in June 2016)
But buyers are more likely to find the better deal on new construction homes (20.5 months of supply) and homes with walkout basements (5.3 months of supply).
We’ll Help You Use These Trends to Your Advantage
If you’re buying a home, we can help you negotiate the best price. If you’re selling your home, we can help increase its value using our Sneak Peek program, an exclusive home marketing strategy, a comprehensive guide to selling your home, and more.
Are you ready to take the next steps? We’d love to answer any questions you have about buying or selling a home in Canton. Call us (734) 459-2600 or email team@bittinger.com.