A Sellers Market is a term used indicating there are more Home Buyers in a particular market than there are Home Sellers. When demand for homes is higher than supply homes typically are on the market a shorter time and prices increase.
Sellers Market - Seller
Selling a home in a Seller's Market is different than selling in a Buyer's Market. For the Seller the odds are you will make more money. In a seller's market their is a better chance for multiple offers. This can sometimes create a frenzy between would be Home Buyer's.
Sellers Market - Buyer
In a Seller's Market the seller has the majority of the power. It is very important the Buyer be pre-approved for a home loan and ready to make an offer on a suitable property. Time is of the essence. The home of your dreams that's on the market may not be tomorrow.
Weather it's a Buyer's Market or a Seller's Market each have their own benefits and challenges. For more information about the Pro's and Con's of buying or selling a home in any market Contact Allen Deaver.