Understanding the Real Estate Market Conditions 房東賣房一定要瞭解大環境
Setting a realistic price for your home that reflects current market values will help sell your home quickly and for top dollar. However, the seller still needs to understand the real estate market condition which will help you make the right decision at the right time.
Seller’s Market is considered a “hot” market. This type of market is created when demand is greater than supply. That is when the number of buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes will sell above the asking price.
Buyer’s Market
Buyer’s Market is a slower market. This type of market occurs when supply is greater than demand when the number of homes exceeds the number of buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. Buyers will have more selection and flexibility in terms of negotiating toward a lower price.
Balanced market
Balanced Market is one where supply equals demand, the number of homes on the market is roughly equal to the number of buyers. Buyers will have a decent number of homes to choose from, so sellers may encounter some competition for offers on their home, or none at all.
Remember, an agent is trained to provide clients with this information about their local market, helping you make the most informed decision during the buying or selling process.
Selling Factors 溫哥華房東賣房要注意事項
A home seller should ask yourself the following questions: those questions are big factors on your listing price!
| Market Conditions
|
Condition of the Home |
Area Influences |
Economic & Social Influences |
| Is it a buyer’s or seller’s market? | Any necessary repairs on my home? What about additional repairs? | What is the area doing? | Interest rates
Political environment |
| What is the MLS Quantity of inventory now? | Value differential | Are there any special considerations? | Labor market
Vacancy rates |
| Average days on market for the similar type of property? | Buyer perception | What is the highest and best use of the property? – selling point | Foreign ownership appeal |
Buypropertiesbc can assist you to sell your home, if you have any questions, give us a shout.
