Tell all Tuesday! Breaking down the difference between a Buyers Market and a Sellers Market March 16, 2021 By Danica Kohut Some aspects of Real Estate can just be utterly confusing. One of the most important things to look for when you are researching the market is whether it is a “buyers market” or a “sellers market”. This can really influence what type of experience and set backs you may run into whether you are looking for your new dream home or looking to sell your home. So lets break it down! A buyers market occurs when the supply (number of homes available) exceeds demand (the number of buyers seeking to purchase a home). So if you are looking to buy a home this is the right time! There are going to be a lot of available homes on the market, and you may be able to snag your dream home for a better and lower price. On the other hand, if you are trying to sell your home in a buyers market, your property may remain on the market longer due to many other properties being on the market as well. A sellers market is quite the opposite! This occurs when demand (numbers of buyers seeking to purchase a home) exceeds supply (number of homes available). More times than not, there will be multiple buyers interested in the same property. This is when it is best to sell your home, because you can secure a more competitive price for your home, and your home will sell quickly! Being a buyer in this scenario can become a bit tricky, because you are competing with a lot of other buyers. This is when it is really important to have a real estate agent that is confident in a sellers market so that they can present the most efficient offer to the sellers. So how do you know if its a sellers market or a buyers market? Generally, in the winter months it is a sellers market, and in the summer, it is a buyers market. One way for you to determine if it is a sellers market or buyers market is by looking at the number of homes available. If inventory is low, usually it is a sellers market, if you see a bunch of homes on the market, then it is usually a byers market. The Real Estate market does shift quite often, so its best if you have any questions to contact a local Real Estate agent.