Bath School District Housing Market is Stable

Bath Housing Inventory Stabilizing

The Bath School District is a wonderful place to live.  It boasts the widest of all possibilities in that it contains a lot of farm land, quite a few industries (including the 4th and 5th largest employers in the area), multiple parks and reservoirs, small towns and city suburbs.
Bath has it all and people want to live here!

The current inventory of homes in Bath is holding at 5 months.  This means that if no one else lists their home for sale and our current sales pace continues then we will have nothing left to sell by March 2016.  We all know that this is not how the market works, but it is how we determine inventory levels.

This current active 5 month inventory is the first to be below 6 months in two years.  August of 2013 was the last time that we saw listings numbers pacing with sales numbers to such a level.  Over this same period the inventory has increased to near 7 month levels before the sales pace quickened to ease the pain.

2015 Bath Home Sales Pace 10% Faster than 2014

The rate at which inventory is consumed has increased by almost 10% (9.9% actual) when comparing this same rate in 2014.   Last year saw an average of 8.3 homes sold per month and the rate today is just over 9.1 home sales per month.  This does not mean that now is a great time to sell your home; nor does it mean that demand has increased to a point that home prices are jumping.  These numbers simply show that the buyer pool is large enough to consume what is being put on the market.

Historical evidence shows that when inventory levels in Bath exceed 6 months, prices tend to decline.  Stabilization happens around the 5 month level and, should something happen to decrease inventory or increase demand, prices should increase when inventories get below the 3 month level.

Please Note that Stable is Good!

To all you home owners in the area, please know that a stable market is a good thing.  This is especially true in Bath where further growth could drastically change the desireability of the area as it sits now.  Most of us appreciate that new home construction is paced with demolition almost perfectly.  Transient housing levels are also fairly well maintained with no additional rental unit offerings in the area.  No plant openings or closings, no new shopping mallls, our school is performing to high levels and our football team even had a great season.  Stability in our housing market is a good thing.

If you have any questions about the numbers that I use or the methods used to derive my information, I would be happy to buy you a cup of coffee and discuss it.

I am Tim Parker and I just want to help the people of our Bath community to get the best from life by having the best information.

Call or text if you need anything - real estate or otherwise - 614-551-7341  (the local agent with the long distance number)!!