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The real estate market is always changing.
It helps to understand how market conditions can affect your
position as a seller.
Your Royal LePage Real Estate Professional can provide you
with current real estate market conditions and explain their
impact.
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Understanding Market Conditions
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| Market Conditions |
Characteristics
|
Implications
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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 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. |
May have
to pay more. Make decisions quickly. Conditional offers
may be rejected.
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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. |
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