Understanding Market Conditions
The real estate
market is always changing. It
helps to understand how market
conditions can affect your position
as a seller.
Market Conditions Characteristics
Implications
Buyer's Market:
The supply of homes on the market
exceeds demand. High inventory
of homes. Few buyers compared
to availability. Homes on the
market longer. Prices tend to
drop in this market. Your home
may take longer to sell. Less
negotiating leverage in terms
of selling prices.
Seller's
Market:
The number of buyers wanting homes
exceeds the supply or number of
homes on the market. Smaller inventory
of homes. Many buyers. Homes sell
quickly. Prices usually increase.
May have more negotiating leverage
and obtain a higher selling price
for your property.
Balanced
Market:
The number of homes on the market
is equal to the demand or number
of buyers. Demand equals supply.
Homes sell within an acceptable
time period. Prices generally
stable. More relaxed atmosphere.
Buyers have a reasonable number
of homes to choose from.
I can inform you of
the market conditions at the time
you are considering selling your home.
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