I often have clients tell me that they’ve heard that we’re in a “Seller’s Market,” but they’re not quite sure what that means. So, to make it easy, here’s a
Seller's Market vs. Buyer's Market
I often have clients tell me that they’ve heard that we’re in a “Seller’s Market,” but they’re not quite sure what that means. So, to make it easy, here’s a couple of tips to help you out:
Buyer’s Market: There are more homes on the market than there are buyers.
In this type of market, buyers will spend more time looking for homes. There are more homes on the market, giving the small number of potential buyers more to choose from. The prices of homes can be stable or perhaps dropping. Sellers will find that buyers have stronger leverage when negotiating.
Balanced Market: There are the same amount of homes for sale and buyers.
When there is equal competition between buyers and sellers, this means that there are reasonable offers given by buyers and homes sell within a reasonable time. With less tension between buyers and sellers, the prices of homes remain stable.
Seller’s Market: There are more buyers than there are homes for sale.
With fewer homes on the market and more buyers, homes sell quickly in a seller’s market. Prices of homes are likely to increase, and there are more likely to be multiple offers on a home. Multiple offers give the seller negotiating power, and conditional offers may be rejected.
While it’s true that we’re in a “Seller’s Market,” real estate is cyclical, and in fact, many experts believe that with the booming economy, we’re in the process of changing from a “Seller’s Market” to a “Balanced Market.” If you need help – are looking for a home – or… you’re looking to sell your home, it’s important to know what kind of market you’re in and the strategy that needs to be deployed to meet your needs. Feel free to contact me at (571) 242-3668. I’m available – CHEAP (meaning that my expertise is FREE) and there’s NO STRINGS ATTACHED!
Hello, and welcome to my website! I am a highly-respected leader with demonstrated success spanning the Government, Corporate and Non-profit sectors. By way of background, I spent more than 20 years ....