Your guide to understanding a seller’s market

by Karin Torrice 03/11/2024

Row of homes

Knowing whether you're in a buyer’s market or seller’s market will help greatly when preparing to list your home. With the right preparation, market trends and behavior can work in your advantage.   Here is a basic guide for recognizing the indicators of a seller's market. 

Seller's market defined 

When there are fewer homes for sale in the housing market than the current demand, it creates a seller's market. There are numerous reasons why this sort of market occurs, including an increase in local jobs available, low mortgage interest rates, world events, etc. 

Seller’s markets are typically quick, and homes can move off the market in a matter of days. Potential buyers must act fast and should be prepared to offer more than the asking price. 

Indicators of a seller's market

One key indicator of a seller’s market is the increase of home prices due to lower inventory. This sort of real estate market arises when the demand exceeds supply. In this sort of market, homes do not stay on the market for long.

Home sellers in this market may find they get many offers for their property. Home buyers may find they have to be quick when putting in offers.  

How can a seller benefit from this market? 

By pricing their house fairly and sorting through competing offers to find the best one, seller’s can close quickly and for great profit! However, a seller must be patient during this time and reasonably compare offers to make the best choice for their household. 

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Examine the local data to determine what sort of market you’re in. Even if you’re in a hot market, still take the time to thoroughly inspect and prep your home for sale. Hiring a real estate agent can assist you with understanding these trends. They can also help guide you in the right direction through the selling process and get the best possible price for your home.

About the Author
Author

Karin Torrice

My philosophy about real estate is to provide each customer with a level of service and integrity that I would give a member of my family. My goal is not to make a one-time sale but to build lifetime relationships. With my in-depth knowledge of the Metro West Boston area, I can help you navigate your home search or sale, which can be overwhelming.  I grew up in Natick, currently live there and know the surrounding areas and communities well.   I am committed to providing my clients the highest level of service, professionalism and negotiating expertise.  I specialize in first time home buyers, relocation, military families and really anyone looking to buy or sell a home!  Let me help you in your home search.  Exceeding your expectations is my goal!