If there is one line that you will get asked over again as a REALTOR®, that’s it!
You might have heard that Springtime is likely to be a Seller’s market & the best time of year to sell (a myth by the way… find out why here) or maybe that nothing ever happens in December.
{SELLER – BUYER – BALANCED}
Cause:
A lot of Buyers looking & only a few homes on the market
{Low Inventory}
Sellers – Excited | Buyers – Frustrated
Market Absorption:
0 – 5 Months
You know you’re in a Seller’s Market when you hear about Buyers competing with each other (Multiple Offers) & Sellers are excited about how much they can get for their homes (often more than asking price).
Cause:
More homes for sale than there are people buying.
{High Inventory}
Sellers – Frustrated | Buyers – Excited
Market Absorption:
6+ Months
You know you’re in a Buyer’s Market when homes stay on the market for a few weeks or more & Seller’s usually have one offer on their home at a time.
Cause:
Similar number of homes for sale as there are buyers for them.
{Level Inventory}
Sellers – Excited or Frustrated | Buyers – Excited or Frustrated
Market Absorption:
5 – 6 Months
You know you’re in a Balanced Market when Buyer’s have a chance to look a lot of homes to find one that fits their needs & Seller’s will often wait a bit before an offer comes in (some homes will always get a quick offer).
Keeping it genuine,
The Edwards Team
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