Helping you is what we do.
Understanding Market Conditions
The real estate market is always changing. It helps to understand how market conditions can affect your position as a Buyer or a Seller.
Your Royal LePage Foothills Real Estate Associate can provide you with current real estate market conditions and explain their impact.
|
Market Conditions |
Characteristics |
Implications |
|
Buyers 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 from which to choose. |
