The Differences Between a Buyer’s, Seller’s and Balanced Market
Saturday May 26th, 2018Share
With the ups and downs of Mississauga's real estate market in the last year, many home buyers and sellers are confused about current conditions. Depending on who you speak to or what you read, there are varying opinions. Some will say that we are now in a seller’s market, while others will say that it’s a buyer’s market. Then there are those folks who are adamant that recent regulations have made it more balanced.
Knowing where the real estate market stands can be extremely confusing and overwhelming when trying to figure it out on your own. That’s why it’s always best to consult with an experienced real estate sales representative to help you understand the market conditions in the area, home type and budget that you are buying or selling within. Your listing price, negotiations and expectations will all be affected depending on where things lie.
Here’s how the three markets differ:
Buyer’s Market: There are more homes on the market than there are buyers.
In this type of market, buyers will spend more time looking for homes since there are more listings to choose from. The prices of homes can also be more stable or perhaps lower. Sellers in this type of market usually find that buyers have stronger leverage when negotiating.
Seller’s Market: There are more buyers than there are homes for sale.
With fewer homes on the market and more buyers, homes often get snapped up faster in a seller’s market. Prices are also more likely to increase, and there are often multiple offers on a home. This gives the seller negotiating power and conditional offers may be rejected.
Balanced Market: There are equal amounts of homes for sale and to buy.
When there is level competition between buyers and sellers, this means that homes usually sell within in a reasonable timeframe and price range. With less tension between buyers and sellers, the prices of homes often remain stable.
Your Mississauga Real Estate Sales Representative
If you need an experienced, knowledgeable and trusting realtor to help you understand our current market conditions, please contact me, Deborah Clerk, Sales Representative at Keller Williams Realty, Brokerage, at (905) 949-8866. I love working with all types of buyers, including first-time buyers, move-up buyers, downsizers, investors and more. Let's talk about your real estate needs!