Market Conditions for Selling Your Home

Market Conditions for Selling Your Home

Market Conditions

Characteristics

Implications

Buyer's Market
The supply of homes on the market exceeds demand.

High inventory of homes. Few buyers compare to availability. Homes on the market longer. Prices tend to drop. More time to look for a home.

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 buyer's.

Demand equals supply. Sellers accept reasonable offers. Homes sell within acceptable time periods. Prices generally stable.

More relaxed atmosphere. Reasonable number of homes to choose from.