Erik Pearson, Berkshire Hathaway HomeServices Town And Country Real EstatePhone: (617) 910-8969
Email: [email protected]
Email: [email protected]
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.
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.
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.
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.
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.
Erik Pearson is a Realtor ® with Berkshire Hathaway HomeServices Town And Country Real Estate and is based out of the Wellesley office. He’s been in the real estate industry for over ten years both in the city and in the local area. He grew up in Lexington, Ma and currently lives in Wellesley with his wife and two daughters, who are in the Wellesley Public School System. This gives Erik a great deal of knowledge about the schools in Wellesley and the surrounding area, allowing him to see the value of the education they provide. His dedication to education is shown by the fact that he graduated from Northeastern and currently sits on the Board of Directors for a Boston-based non-profit that gets inner city kids involved in learning and their communities.
