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 |
|
Buyers 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 type of market. |
Your home may take longer to sell. Less negotiating leverage in terms of selling price. |
|
Sellers 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. |
You 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. |
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