Understanding Market Conditions

The real estate market is always changing. It helps to understand how market conditions can affect your position as a seller. I can provide you with current real estate market conditions and explain their impact.

Market Conditions *Buyer’s Market:* The supply of homes on the market exceeds demand. *Seller’s Market:* The number of buyers wanting homes exceeds the supply or number of homes on the market. *Balanced Market:* The number of homes on the market is equal to the demand or number of buyers.	Characteristics High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop. Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.	Implications More time to look for a home. More negotiating leverage. May have to pay more. Make decisions quickly. Conditional offers may be rejected. More relaxed atmosphere. Reasonable number of homes to choose from.