The terms “buyers market” and ”sellers market” are often used the real estate industry, but what do they mean? And what or who determines which one we’re in?
As your Quinte realtor and real estate guide, we are here to spill the tea☕️ Let’s discuss the difference between a “buyers market” and a “sellers market”:
A BUYERS MARKET:
- More supply than demand
- Sellers may have to accept lower offers or make repairs in order to sell
- Buyers can negotiate and potentially get a better deal
- Rising inventory and longer listing times
- More listings for buyers to view and choose from
A SELLERS MARKET:
- More demand than supply
- Buyers may have to pay above asking price or wave contingencies in order to get an offer accepted
- Sellers are known to receive multiple offers
- Low inventory and short listing times
- Less listings for buyers to view and choose from + more competition
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📸 @hollymcmurterphotographs
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