Inventory on the Rise, Yet Still a Seller's Market

As we navigate through the dynamic world of real estate in Kern County, it's essential to stay informed about the latest market trends and what they mean for both buyers and sellers. The most recent data from the Golden Empire MLS reveals a significant shift in our local market: inventory is increasing, providing more options for buyers, but we remain firmly in a Seller's market.

A Notable Increase in Inventory

In July of this year, Kern County saw a notable rise in the number of properties listed for sale. There were 1,021 properties available, compared to just 738 properties listed during the same month last year. This represents a substantial 38.3% increase in inventory. This uptick is a welcome change for buyers who have been facing limited choices and increased competition.

More Choices for Buyers

For prospective buyers, this increase in inventory translates to more options and potentially more opportunities to find the perfect home. With a wider selection of properties available, buyers may experience less pressure to rush into decisions and can take more time to explore their options.

Still a Seller's Market

Despite the increase in inventory, Kern County remains a Seller's market. In July, we had just 2 months of inventory, which means that if no new properties were listed, it would take only two months to sell all the current homes on the market. A balanced market typically has around 3-6 months of inventory, so with only 2 months, sellers still hold the advantage.

What Does This Mean for Buyers and Sellers?

For buyers, while there are more options, it's crucial to act quickly and decisively. Properties are still moving fast due to the limited overall supply and being prepared with pre-approvals and knowing what you're looking for can make a significant difference.

For sellers, this remains an opportune time to list your property. The demand is still high, and with the increase in inventory, more buyers are actively looking. Pricing your home competitively and working with an experienced Realtor can help ensure a successful sale.

Conclusion

The Kern County real estate market is experiencing an interesting phase with increasing inventory, offering more choices for buyers. However, with only 2 months of inventory, we are still in a Seller's market. Whether you're looking to buy or sell, staying informed and working with a knowledgeable real estate professional can help you navigate these changes effectively.

For more detailed information and personalized advice, reach out to The McCarty Group. We're here to help you make the most of the current market conditions.