Unyielding Seller's Advantage: Why It's Still a Seller's Market

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available homes based on current demand. In a balanced market, there’s usually about a six-month supply. Today, we have only about 3 months’ supply of homes at the current sales pace (see graph below): 

As the visual shows, given the current inventory of homes, it’s still a seller's market.

Today, we’re nowhere near what’s considered a balanced market. In fact, the current months’ supply is half of what’s typical of a normal market. That means there just aren’t enough homes to go around based on today’s buyer demand.

As Lawrence Yun, Chief Economist for NARsays:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

How Does Being in a Seller’s Market Benefit You?

Sellers, these conditions give you a real edge. Right now, there are buyers who are ready, willing, and able to purchase a home. And, because there's a shortage of homes up for sale, the ones that do hit the market are like magnets for those buyers.

If you work with a local real estate agent to list your house right now, in good condition, and at the right price, it could get a lot of attention. You might even end up with multiple offers.

Bottom Line

Today’s seller’s market sets you up with a big advantage when you sell your house. Because supply is so low, your house will be in the spotlight for motivated buyers who are craving more options. Let’s connect so you understand what’s happening in our local area as you get ready to enter the market.

1051 Properties
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$375,000
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3
Beds
2
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1,498
Sq.Ft.
2024
Year Built
2
Days on Site
A4608496
MLS
$359,000
Neighborhood: Port Charlotte Sub 51
3
Beds
3
Baths
1,665
Sq.Ft.
2024
Year Built
2
Days on Site
C7492491
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$314,900
Neighborhood: Port Charlotte Sub 11
3
Beds
2
Baths
1,427
Sq.Ft.
2001
Year Built
2
Days on Site
C7492758
MLS
$229,900
Neighborhood: Port Charlotte Sub
4
Beds
2
Baths
1,707
Sq.Ft.
1959
Year Built
2
Days on Site
T3527503
MLS
$575,000
Neighborhood: Port Charlotte Sub 09
3
Beds
2
Baths
1,749
Sq.Ft.
2023
Year Built
3
Days on Site
N6132953
MLS
$1,195,000
Neighborhood: 2Nd North Port Charlotte Estates
3
Beds
2
Baths
2,651
Sq.Ft.
1991
Year Built
3
Days on Site
A4610567
MLS
$499,900
Neighborhood: Port Charlotte Sub 36
3
Beds
2
Baths
1,819
Sq.Ft.
1998
Year Built
3
Days on Site
D6136587
MLS
$370,000
Neighborhood: Port Charlotte Sub 33
3
Beds
2
Baths
1,498
Sq.Ft.
2023
Year Built
3
Days on Site
C7492856
MLS
Open 5/19
1459 Virginia St North Port,  FL 34287
$329,900
Neighborhood: Port Charlotte Sub 10
3
Beds
2
Baths
1,326
Sq.Ft.
2000
Year Built
3
Days on Site
A4610965
MLS
$349,999
Neighborhood: Port Charlotte Sub 20
3
Beds
2
Baths
1,535
Sq.Ft.
2005
Year Built
3
Days on Site
C7492894
MLS
$779,000
Neighborhood: North Port Charlotte Estates Add 01
3
Beds
2F11/2
Baths
2,570
Sq.Ft.
2000
Year Built
3
Days on Site
A4611083
MLS
Open 5/19
1187 Henning St North Port,  FL 34288
$385,000
Neighborhood: Port Charlotte Sub 32
3
Beds
2
Baths
1,859
Sq.Ft.
2017
Year Built
3
Days on Site
A4610626
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