| Market Conditions |
|
Characteristics |
|
Implications |
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 in this
type of market |
|
Your home may take longer to sell. Less negotiating leverage
in terms of selling price. |
| |
|
|
|
|
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. |
|
You may have more negotiating leverage and obtain a higher
selling price for your property. |
| |
|
|
|
|
Balanced Market:
The number of homes on the market is equal to the demand
or number buyers. |
|
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. |
Ask Michael for the current market conditions at the time
you are considering selling your home.
