There are three different types of real estate markets. Here’s a little bit of information about each of them.
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You’ve probably heard the terms “buyer’s market” and “seller’s market” before, but what do they mean?
When our supply and demand are equal, we are in a balanced market. However, when the scales start to tip in either direction, buyers and sellers gain advantages in the market.
A buyer’s market is when our supply is much greater than our demand. This causes homes to take longer to sell. There are also fewer offers to go around because there are fewer buyers.
Right now, we are in a seller’s market. We have low inventory and a high level of demand. In this market, sellers are going to see higher offers and more money for their property. They’ll likely see multiple offers as well.
If you have any questions for us or you’d like to take advantage of these conditions, give us a call or send us an email. We would love to hear from you soon.