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seller's market

What is a Seller's Market?

Spring has sprung and the real estate market is heating up! Houses are selling fast, leaving fewer homes for buyers to fight over. This is called a seller's market. Read on for a definition of this real estate term:

The seller's market is the term given to a market where the seller has the upper hand. This might happen when there are few good homes available in a certain area. It might also mean that the area is a hot one right now for potential buyers. The seller's market is one where a seller might receive a lot of interest from multiple buyers on any given listing. The seller might be able to get multiple bids and offers on a given property. These markets usually lead to higher sale prices on homes and can be difficult for interested buyers. Seller's markets are contrasted with a buyer's market, which occurs when there are very few buyers and a host of acceptable properties in an area. As a buyer, you would much rather do your bidding in a buyer's market than a seller's market, where the seller has all of the control.

If you are thinking of listing your home the time couldn't be better! Give our office a call today to speak with a dedicated agent and get your home listed during this HOT market! And if you're thinking of buying, don't wait! Our agents can start showing you properties and guide you through making an offer.