Seller or Buyer Real Estate Market?

End of 2024 dictates a Seller's or Buyer's Market? 

Whether a real estate market is classified as a seller's market or a buyer's market depends on the balance of supply and demand for homes in that area. Here’s a brief overview of both types of markets:

Seller's Market: A seller's market occurs when there are more buyers than available homes for sale. This often leads to increased competition among buyers, and this leads to:

• Rising home prices
• Fewer days on the market for listings
• Multiple offers on the properties
• Limited inventory

Buyer Market : A buyer's market happens when there are more homes for sale than there are buyers. 

• This gives buyers more negotiating power
• Falling or stable home prices 
• More homes available for sale
• Longer time on the market for listings
• Sellers might need to offer incentives to buyers or lower the price to attract buyers. 

 To determine whether the current market is a seller's or buyer's market, you would need to look at local real estate data, including inventory levels, average days on the market, and recent sales trends. As of my last update in November 2024, many markets were experiencing shifts due to various economic factors, including interest rates and inflation, which can influence supply and demand dynamics. A lot of homes are decreasing the price now, so if you are looking to purchase a home soon, I will be more than happy to assist you on this exciting journey!. 

Please share this article with family and friends as I appreciate REFERRALS !!

P.S.** Know somebody wanting to Sell or Buy a Property? SHARE my contact Information! :)

Kindly, Dalia Alvarado