| Market Conditions |
Characteristics |
Implications |
Buyers Market:
The supply of homes on the market exceeds demand. |
House 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. |
Sellers 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 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 of 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. |
