A seller’s market occurs when demand exceeds supply; in other words, there are more buyers looking to purchase homes than there are available homes on the market. This can lead to multiple buyers offering on a single property, bidding wars, and homes selling for well over list price.
A seller’s market could be the perfect time to sell your home! You’ll have more buyer eyes on your property since there are fewer homes on the market, and buyers will be more likely to submit their highest and best offers up front in an effort to avoid losing out to the competition. In fact, some offerors may drive the sales price well over your original list price, which is major icing on the cake for you! The bottom line is that in a seller’s market, the ball is your court. Keep in mind that market shifts are inevitable, and eventually we’ll find ourselves in a buyer’s market where the opposite will be true.
If you’re interested in learning more about selling your home while you have the advantage, please contact me today!
If you’re looking to buy home in a seller’s market, you simply need to have an understanding of how this should inform your strategy. Although the seller does have the advantage, there are methods for coming out with an accepted offer and scoring a property you love. Here are a few things to keep in mind:
If you need assistance navigating the current seller’s market as a buyer, please reach out to me!
Keep in mind that no matter what side you’re on, a great REALTOR® is an advocate who will keep your best interest at the forefront. If you, or someone you know is interested in learning more about the buying or selling process, feel free to contact me via phone, text, or e-mail. I am ready to assist!