The real estate market is not always easy to understand.
It always helps to understand the market conditions and how they 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. |
More time to look for a new home. More negotiating
leverage. |
| 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 increases. |
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 usually increase. |
More relaxed atmosphere. Reasonable number of homes to
choose from. |
