Understanding the Real Estate Market
Determining a Buyer’s, Seller’s, or Balanced Market Condition
- When determining whether the market is in favor of buyers or sellers, the absorption rate and current inventory are reliable indicators.
- In general, fewer than three months of inventory and more than six months of inventory imply a seller's market and a buyer's market, respectively.
- A balanced market has an inventory level of three to six months.
- Because there are few options for buyers in a seller's market, you have the luxury of setting your price a little higher.
- In a market when there are many options for buyers, it makes sense to price competitively.
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