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Market Conditions
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Characteristics
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Implications
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Buyer's Market:
The supply of homes on the market exceeds demand.
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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. |
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Seller's Market:
The number of buyers wanting homes exceeds the supply or number of homes on the market.
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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. |
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Balanced Market:
The number of homes on the market is equal to the demand or number of buyers.
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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. |
