Charlottesville Virginia Homes For Sale - Where Is The Tipping Point?
The spring real estate market is under way and we are seeing more and more Charlottesville homes for sale coming on the market daily. Buyers are like kids in a candy store. There are so many choices of homes to purchase. There is a lot of inventory in all home styles and price ranges. Many homes are being shown and open house traffic is up. However sales are not commensurate with the activity.
For an individual buyer the choices can be overwhelming. Additionally he is hesitant to make the decision to purchase a Charlottesville home, because there is always the possibility that tomorrow a better home could come on the market at a better price. So Mr. Buyer continues to look at the ever increasing inventory of homes for sale in Charlottesville.
Then the day comes where that individual buyer reaches his Tipping Point. He sees some of his first choices go under contract and perhaps fewer new homes meeting his criteria are coming on the market. The momentum has shifted and he makes the decision to buy a home now.
There is also a Tipping Point for the market in general. The majority of sellers put their homes on the market in the early spring. Historically spring is the best time to sell a Charlottesville home. With the beautiful spring landscape that we have in Virginia we see an influx of visitors from out of state and with them comes an influx of homebuyers. Many more homes go under contract in the spring months than during other times of year. As a result in the spring we see lots of new listings of homes for sale. Proceeding into later spring this volume of new homes coming on the market begins to slow. At the same time we see home sales pick up in the Charlottesville real estate market, and just like that we have reached the tipping point. When will this year's Tipping Point come?
The Tipping Point is a wonderful book by Malcolm Gladstone and introduces the concept of the tipping point. The book relates various tipping points that have changed the course of a number of businesses. I would also like to thank Percy Montigue the CEO of Montague Miller & Company for mentioning the tipping point during his talk at our latest company meeting about the state of the spring Charlottesville real estate market and giving me the idea for this post.
Copyright 2011 by Pam Dent, all rights reserved "Charlottesville Virginia Homes For Sale - Where is the Tipping Point?"
