Welcome to our first episode of The Knowledge Broker by Chisum Realty Group. In this episode, we’ll be discussing the Angel Fire Real Estate market and its current condition. Are we in a Buyers, Balanced or Sellers Market? Watch the video to find out!
To view our complete 2017 Year End Real Estate Market Report for Angel Fire, please click here.
Welcome to Episode 1 of the Knowledge Broker, I’m Tara Chisum with Chisum Realty Group and we are here today to talk about the Angel Fire Real Estate market. There’s been a lot of talk around town that the market is hot, so we’re going to dig into the data and show you exactly what is happening.
A Real Estate market can be one of three things. A buyers market, balanced market, or a sellers market. And like any other industry, it is all determined by supply and demand. So, let’s look at the supply and demand in Angel Fire for the last 3 years.
We have seen a consistent uptick in the number of homes sales, or demand, combined with a decrease in the inventory, or supply. This shows that we are moving out of a buyers market and into a balanced market. Some indicators of this trend are a decrease in days on market. 2017 saw an average days on market of 315, which sounds high, but I want you to keep in mind that the 80/20 rule does apply here. And 80% of the homes sold last year had an average days on market of 106. We also are starting to see multiple offer situations, something that we haven’t experienced in many years, as well as an increase in the list to sale price ratio.
So, what does this mean for 2018? Well, our crystal ball shows us that we will maintain a balanced market for the rest of the year. We’re already seeing a balanced market in the under $500,000 price point and we expect the higher end homes to follow.
If you want to see our full market report, please visit chisumgroup.com. And if you have questions on how this affects your home specifically, feel free to give us a call.
We look forward to seeing you on the next episode of The Knowledge Broker.