UNDERSTANDING MARKET CONDITIONS

The real estate market is always changing, and it helps to understand how market conditions can affect your position as a Seller. I can provide you with information on current conditions and explain their impact on you.

Buyers’ Market

The supply of homes on the market exceeds demand.

Characteristics

  • High inventory of homes
  • Few buyers compared to availability
  • Homes on the market longer
  • Prices tend to drop

Implications

  • More time to look for a home
  • More negotiating leverage

Sellers’ Market

The number of buyers wanting homes exceeds the supply of homes on the market.

Characteristics

  • Smaller inventory of homes
  • Many buyers
  • Homes sell quickly
  • Prices usually increase

Implications

  • May have to pay more
  • Must make decisions quickly
  • Conditional offers may be rejected

Balanced Market

The number of homes on the market is equal to the number of buyers.

Characteristics

  • Sellers accept reasonable offers
  • Homes sell within an acceptable time period
  • Prices generally stable

Implications

  • More relaxed atmosphere
  • Reasonable number of homes to choose from