I can provide you with current real estate market conditions and explain their impact. 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.
  • More time to look for a home. More negotiating leverage.
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.
  • 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 buyers.
  • Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.
  • More relaxed atmosphere. Reasonable number of homes to choose