A sellers’ market is when there are more buyers in a market looking to invest in property but there are not enough available properties to meet the high demand. The year 2018 seems to be a seller’s year, and here are the reasons it is so and why you should put up your home for sale:
Home Prices Have Been On The Rise
That is right, way back from 2017, and on wards to 2018, home prices have been on the rise. Although it is advisable that you sell as soon as you can, you will also fetch a good price if you sell later in 2018. Trusted databases show that there has been a 5.5% increase in home prices over one year.
There Are Fewer Listings
It is really about the law of supply and demand. When there are few properties in the listings and there are many buyers looking for the same, then that is considered to be a seller’s market. If you are looking for a property, this would be a good time to hold back some and wait it out a bit. If you have a home you would wish to sell, take advantage of this opportunity and sell.
The properties available for sale are quite few and this can only mean that the supply of property is low. When there are a few properties in the market for sale compared to the usual listing on the market, then that can be listed as a sellers’ market. With a seller’s market, there is great demand for property but there are quite few listed for buyers to buy.
Bidding Wars Going On
Look around you, and you will see that in most places, there is a shortage of properties listed in the market. Silently, slowly but surely; there is a current ongoing bidding war. This is a sure indication that we are definitely in a sellers’ market since multiple buyers are making biddings for the same property that is available in the market.
It is safe to assume that since buyers are clawing each other out of the way for the same properties because there is a shortage.
One question that you may wish to ask is why there are these…