Buyer's or Seller's Market - Saginaw compared to Fort Worth

Wednesday, May 30, 2018   /   by Bernie Christian

Buyer's or Seller's Market - Saginaw compared to Fort Worth

Everyone has an opinion about what's happening in the local real estate market but if you're selling your house you want to know how to set the best price for your home and the best way you can do that is to hire an experienced realtor that knows the market really well and who can show you the statistics for your particular neighborhood. This blog post is obviously not going to drill down to your particular neighborhood since I can only generalize about a broader area and one that is relative to the majority of people that might read the article. However, we can gain some great insight and perspective into an area or city and compare it to a larger area or city. In this case I'll use Saginaw Texas and compare to Fort Worth. And, since there are many variables with which we can compare, I'll settle on one of my favorites and that is "Months Supply". This variable basically tells us the months supply of inventory in a given market. Once we know how many months of supply we have, it is easy to see whether we have a buyer's market, a neutral market or a seller's market. Depending on who you ask, you may get a slightly different response. However, this is what I have always used to make the determination of who or whether the market favors a buyer or seller. A seller's market = 0 to 3 months supply of inventory. A neutral market = 3 to 6 months of inventory and a buyers market is 6 or more months supply of inventory.

This market study (graph) was through April of 2018 and considers all resale (not new construction) homes below $500,000 in price, in both Saginaw and Fort Worth without regard to bedroom count, square footage or year built.

As you can see on the graph, Saginaw has maintained a seller's market for the last three years in a row with basically a 1 month supply of homes on the market. Obviously, when supply is low and demand is high, it favors the seller and not the buyer. So, we have a seller's market in the city of Saginaw Texas.

Also, as a point of comparison, the City of Fort Worth has maintained a 1.7 month supply of inventory over the last three years. Using our rule noted above, this too is a buyer's market since it is less than a 3 month supply of homes for sale. 

In either case, the market favors the seller. We can see that homes are selling at a faster pace in Saginaw than they are in Fort Worth so negotiations may be harder for a Saginaw buyer than a Fort Worth buyer. But the distinction would not likely be significant. Since our team sells many homes in Saginaw and Fort Worth, we can testify that homes are indeed moving quickly onto and off of the market. You can expect to sell your home quickly and for top dollar. The key is in pricing the home right for the area it is located and encouraging multiple offers so that an auction effect is achieved. Many homes in Saginaw and Fort Worth are getting above the asking price. 

Are you about to sell your home? Would you like to have the opportunity to earn more money on your home than you ever thought possible? Call us today 817-269-1660 and let us give you a free in home consultation on what your home is worth. The Christian Group is ready to work for you and you need our experience to get you the highest price for your home. Don't settle on just any Realtor. You'll have the best when you hire us to get the job done!

April 2018 Months Supply.png