Summit County's Most Trusted Real Estate Advocates
In this recent Forbes article, our leader Garratt Hasenstab shared a some of his insight about the importance of examining two key factors when determining if the timing is right for your investment or development in any given market.
First, the current Absorption Rate (increasing or decreasing inventory numbers) is important to study as it reveals how quickly properties are selling in the current market in reference to the overall amount of properties listed for sale, and 2) Recent Sales Prices, which show to what degree (bullish or bearish) the current local market is, as well as the value that current buyers are placing on these properties.
When inventory is on the decline, prices are usually headed higher and vice versa (basic supply and demand principles, when there are fewer homes on the market, those that are for sale can often command a higher price). Timing your project right, based on the underlying local market trends can make all the difference when it comes to your bottom line.
Read the article linked here to learn more on this topic from other Forbes Real Estate Council members:
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