There are a lot of folks who love to ask me, how is the market doing? I usually smile and ask them: How long do you have?
The answer I give depends largely on who I am talking to, which aspect of the market they are asking about, what area it is in, the price point they are wondering about, etc, etc, etc.
Another words? It's a loaded question but one I love to fire on. You see not only is the market cyclical it is also impacted by a myriad of different factors. Inventory is a big one, but that doesn't mean just because inventory is low that your market will be jumping. Demand comes right behind inventory. Yet even if inventory is low and demand is high it doesn't mean you can get a pie in the sky amount for your property. If the buyer has cash it is possible they will give you what ever you want. However, it is far more likely that the buyer in question will have a good agent to advise them of a fair market price and a banker telling them that the property appraises for a certain amount. Then there will normally be inspections and any problems found can further sap your sale price even further. If you are the buyer you will want to make sure that any problems found are dealt with or that a comparable monetary compromise is made so that you aren't paying more than you should.
So how do you answer the question of if this is the time to buy or sell a home? Easy, you call and tell me your situation. Since every circumstance is different I can advise you of what property is going for in the price point at which you are looking. If you are selling I can come by the house, take a look and let you know what you should do to get it ready and by extension what the market would currently price it at.
My goal is to see you get the property you want for the best price or if selling to get the most money possible in the least amount of time. To do that I need to know your needs and then help you plan a strategy to achieve your personal goals.