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MARKET CONDITIONS
Local market conditions can affect the sale of your home. Understanding the current real estate trend can assist you in making decisions while selling your home. We can set up an email showing you relevant activity in your neighborhood with our complimentary Market Snapshot. There are three market states:
BUYERS MARKET
When there are more homes on the market than there are buyers.
In this type of market, buyers will spend more time looking for homes. There are more homes on the market, giving the small number of potential buyers more to choose from. The prices of homes can be stable or perhaps dropping. Seller's will find that buyers have stronger leverage when negotiating.
SELLERS MARKET
There are more buyers than there are homes for sale.
With fewer homes on the market and more buyers, homes sell quickly in a seller's market. Prices of homes are likely to increase, and there are more likely to be multiple offers on a home. Multiple offers give the sellers negotiating power, and conditional offers may be rejected.
BALANCED MARKET
There are about the same amount of homes for buyers & sellers.
There is equal competition between buyers and sellers. This means that there are reasonable offers given by buyers, and homes sell within a reasonable time. With less tension between buyer and seller the prices of homes remain stable.
Resaas Worldwide & Luxury Homes Affiliate | Home Evaluation
GLOBAL & LOCAL REACH
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