Each month, the Corbin Team creates a HEAT Index to gauge market activity.
Download January Henry County HEAT Index
We use the term “months of supply” to tell us how much housing inventory is for sale in the market. Months of supply is the time it would take for all of the current inventory to sell if it all sold at the current rate without any new inventory coming on the market.
A 5-7 month supply is considered the benchmark for a balanced market. Less than 5 months of supply favors sellers because there are fewer choices for the buyer. More than 7 months favors buyers and leads to lower prices.
The more extreme a buyer’s market (12 months or more supply), the better a deal the buyer might be able to negotiate. The smaller the inventory (less than 2 months of supply) the more likely a seller is to see multiple offers or quickly rising prices.
The January HEAT Index for Henry County shows that we are still in a strong Seller’s Market for homes priced $300,000 and less. For homes priced between $300,000 – $450,000, the market is more balanced. And, for homes priced above $450,000, the market is slower and more favorable to Buyers.
If you are thinking of selling your home, give us a call and let’s talk about the right pricing strategy for your home.