The real estate market is always changing. It helps to understand how market conditions can affect your position as a seller. I can provide you with current real estate market conditions and explain their impact.
|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.||More time to look for a home. More negotiating leverage.|
|Seller's Market: The number of buyer's 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 to pay more. Make decisions quickly. Conditional offers may be rejected.|
|Balanced Market: The number of homes on the market is equal to the demand or number of buyers.||Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.||More relaxed atmosphere. Reasonable number of homes to choose from.|