In our last post we discussed at length why many areas actually have a shortage of homes for sale, how available inventory is low and why some buyers can’t seem to find a home that fits them. If your home has been on the market for a period of time you’re probably reading that either frustrated or in disbelief. After posting on how we have a shortage of great homes for sale, we couldn’t let time go by without addressing the obvious other side of that. Why hasn’t my home sold yet?
The simple, honest answer is that if your home has been for sale for some period, had showings and hasn’t sold, either in price or amenity level it simply hasn’t met the demands of the market. I know we don’t want to hear that but that’s exactly what it comes down to.
A couple of years ago when we were in the trough of the recession, there were a lot of homes that were not going to sell no matter WHAT the price. There just wasn’t a market regardless of what some homeowners were asking for their properties. Those days are behind us. There are active buyers all over the place although it is true the some price points are busier than others. In the world we live in today, there’s a buyer for about every home. There are a few homes that are still requiring steep discounts because the numbers of buyers are small such as in the ultra high end market. But today, even they can sell if the price is right.In the end, this is all still just 10th grade economics. The market is the market. When a home is priced where it actually draws a written offer from a prospective buyer, that’s the tipping point to a sale. Not $20,000 higher or $13,000 lower. Buyers determine what they want to pay for homes. Sellers don’t want to accept those numbers in some cases but that doesn’t mean they’re going to the closing table either. So this gets us back to the original discussion. We DO in fact have a supply shortage of homes that precisely meet the demands of the market. Homes that aren’t selling simply haven’t found their market which is always determined by price. While that's not popular....it is today's market reality. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033, top selling carmel indiana realtor broker agent