Is The Billings Heights Really A Sellers Market?
When people say a housing market is a buyers or sellers market, what exactly are they referring to? To determine if a housing market is truly a buyers or sellers market, we look at the absorption rate of homes. That is the current # of homes for sale divided by the average monthly sales over the last 12 months.
As of June 25th 2019, the Heights has 136 homes for sale, according to our multiple listing service. We have sold 553 homes in the Heights over the last 12 months giving us an average of 46 sales per month.
When I look at these numbers we currently have a 2.95 month supply of homes, which is a significant sellers market. 5-6 months supply is considered a balanced market. The lower the months supply of homes, the stronger a sellers market.
We have Benn averaging 2-4 months supply of homes, depending on price range, over the last couple years. The Billings Heights housing market is strong.
I am very interested in meeting with you and talking about the Heights housing market and the home sales process whenever you are ready. You can contact me at firstname.lastname@example.org or by phone 4066707314