The inventory for La Crosse County in increasing.
In May through August, the inventory was just under eight months. In the past two months, that has increased to more than nine.
What does inventory mean, exactly?
It means how many months it would take, in theory, to sell the homes that are currently listed if no other properties came on the market.
As we see these numbers, we are able to better predict how the market is looking. (Keep in mind, though, that estimating is not a guarantee.)
The inventory can persuade pricing. Keep in mind that the above picture and below descriptions are a rough guideline. There are no hard month-long guidelines for the market.
With one to five months inventory, there are fewer homes for buyers to chose from, so there is more competition for the ones that are listed. Sellers have much more negotiating power and prices tend to move up.
When there are about five to seven months of inventory, the market is as normal as it can be. Neither buyer nor seller has the advantage.
When there is more than seven months of inventory, things shift to the buyers because there are many houses sale. Sellers might have to lower prices or give incentives like home inspection or new roofs.
With the inventory being at 9.79, buyers are favored.
Are you a buyer that is interested in taking advantage of the market, contact us!