Seller’s market is a term used when the process of buying real estate favors mainly the seller. It is commonly characterized by the low inventory of housing which often allows sellers to raise their prices since buyers are competing against other home buyers in a low inventory market. Selling a home during a seller’s market offers several advantages.
Less Competition
When there is a low number of properties on the market, there is a greater chance that your property will sell. It is no longer a question “if” your property will sell but “when”. With a balanced inventory, there is no guarantee that a home will sell even if it is priced correctly and in good condition. With this same scenario, a seller’s market puts a lot of this fear to rest and sellers are counseled to begin planning their next course of action.
Quicker Sales
With a limited inventory and a high amount of buyers looking in a specific real estate market, your property will likely...Read More