Buyers & Sellers Market
Understanding market conditions
Buyers' market
The supply of homes on the market exceeds demand. Inventory is high, buyers have time and products to choose from. Average market time is lengthened and prices tend to soften.
As a buyer you have:
- More time to look for a home
- More negotiating power
- More to choose from!
Sellers' market
Lots of buyers in the market with is a smaller inventory of homes. There are many buyers competing for homes that are selling quickly. This usually drives up the prices and shortens market time.
As a buyer you:
- May have too pay more
- Must make decisions quickly
- "Subject to the sale offers may be rejected
Balanced market
The number of homes on the market is equal to the number of buyers. Sellers accept reasonable offers, and homes sell in an acceptabe time period if priced correctly. Prices are stable.
As a buyer you have:
- More relaxed experience
- Reasonable number of homes to choose from
