They know your community, they know what is important when buying and selling a home, and they know all the intricacies of the process, from finding a home, to negotiating a price, to closing a deal.
The real estate market is always changing:
Market conditions |
Characteristics |
Implications |
Buyer’s market The supply of homes on the market exceeds the demand. |
High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop. | More time to look for a home. More negotiating leverage. |
Seller’s market There are more buyers looking to buy a home than there are homes on the market. |
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. | May have to pay more and make decisions quickly. Conditional offers may be rejected. |
Balanced market The number of homes on the market is equal to the number of buyers. |
Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable. | More relaxed atmosphere. Reasonable number of homes to choose from. |
The real estate market is always changing:
Buyer’s market
The supply of homes on the market exceeds the demand. High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop. More time to look for a home. More negotiating leverage.
Seller’s market
There are more buyers looking to buy a home than there are homes on the market. Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. May have to pay more and make decisions quickly. Conditional offers may be rejected.
Balanced market
The number of homes on the market is equal to the number of buyers. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable. More relaxed atmosphere. Reasonable number of homes to choose from.
High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop.
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase.
Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable.
More time to look for a home. More negotiating leverage.
May have to pay more and make decisions quickly. Conditional offers may be rejected.
More relaxed atmosphere. Reasonable number of homes to choose from.