Conditions in the real estate market generally favor either the buyer or the seller. 
The market is always changing, so it is important to have a Realtor who diligently monitors the listings in your neighborhood or where you want to relocate.

Realtors keep track of the number of days each home is on the market.  A typical market is one in which it takes three to eight weeks to sell a home.

Whenever, there is more than six-month's of inventory, there is a "glut" of homes on the market.

In a buyer's market, there are too many homes on the market for the number of buyers.  Homes take longer to sell and prices fall.  Sellers must work hard to sell their homes, often adding incentives such as owner financing or redecoring allowance to attract buyers.  Buyers may increase their demands, such as asking sellers to cover some of the closing costs and contingencies.  Sellers may get little or no profit from the sale of their home. 

In a seller's market, there are fewer homes for sale than there are buyers. Prices tend to rise, and homes sell quickly with little or no bargining.  Sometimes homes sell in a matter of hours or days.  Sellers often will get "top dollar" for their homes, which eliminates some buyers who can't afford the higher costs.  A particularly attractive home may receive several offers, some even higher than the list price.  Buyers must be completely ready to buy when the inventory is low and competition is high.

Many factors can affect the real estate market.  If you're preparing to buy or sell a home, contact me to find out what the market conditions are and how we can plan a successful strategy for you!


Bill Lee
Senior Real Estate Specialist
Certified Residential Specialist
626 578-9881

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