What is a Seller’s Market?
SELLER’S MARKET = Many Buyers’ + Few Listings
Benefits: Higher price, less Terms, shorter Days on the Market
In a sellers’ market there are a lot of buyers and very few homes on the market so this is the picture perfect world for the seller. They can ask a higher price, offer fewer terms and their homes will usually sell more quickly. Make sure you do not overestimate the strength of the sellers’ market because if you overprice their home it will become stale-dated and market-shopped after the first 2-3 weeks of showings.