Why So Many Homes For Sale?
Today I was asked, “Why are there so many homes for sale in Hunters Ridge Bonita Springs ?” Here’s the scoop … simply looking at the number of homes or units of real estate for sale online isn’t a true statistic.
First, does it make any difference if there are sixteen homes on the real estate market if there are one hundred units in the community or one thousand? Well, of course it does. Real estate statistics are based on closed real estate sales and the current listed real estate inventory. So regardless if the community you’re interested in is Hunter’s Ridge, Pelican Landing, Marbella at Spanish Wells or any other community you can easily determine whether that “number of real estate units” is really excessive.
You’d be wise to be able to know how to calculate the inventory for the sake of your purchase offer to buy any real estate, also. I prepare them for my home buyers so they understand the inventory in their market and can gauge their offer accordingly.
You can determine the absorption rate yourself or ask your agent to do it. Lawd have mercy, I hope you picked a real estate agent that knows how to do it. The success of your real estate investment depends upon it, whether you’re buying or selling. To learn more about absorption rates and real estate inventory, real the following post: