UNDERSTANDING MARKET CONDITIONS

Brent 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 from.