The real estate market changes by location, supply and demand. If you’re thinking of buying or selling a home, you’ve probably heard of the terms “seller’s market” and “buyer’s market”, and may wonder what they mean and if now is the time to make your move.
A low inventory of properties on the market means greater demand for what inventory is available. This is a seller’s market. The low volume of available properties means that sellers can raise their prices a bit to get some extra cash.
A buyer’s market is when there is more supply than demand. With an abundance of homes being sold, seller's have to drop their prices to compete with each other, allowing buyers to reap the benefits.
Currently, it is a seller’s market in Granite County.
If you’ve been thinking about selling, now is a great time for you to make the decision to do so.
The housing inventory around Drummond and Philipsburg is low, especially in Drummond. Right now I have several interested buyers looking for homes in the surrounding area. However, since the inventory of homes for sale is very low they are not finding what they are looking for.
In a seller’s market you are more likely to attain your asking price if there are fewer homes on the market. You might find that buyers who have been house hunting for a long time with no luck, will see your home fresh on the market and quickly seize the opportunity to make an offer.
Listing your home now might mean that you have the advantage when negotiating the terms of the sale. Less inventory on the market means that buyers are going to have to make their best offer initially if they want to snag your home before someone else does.
Now, just because it’s a seller’s market doesn’t mean you’re home is going to fly off the market right away. A successful sale requires a successful plan. Normally, one’s home is their most valuable asset. There are key ingredients in devising a marketing strategy that will help insure that you receive the full financial potential available to you through the sale of your home.
If you are looking to sell your home, or know someone in the area who is, please contact me. I welcome the opportunity to sit down with you to present a marketing plan that I know will produce a great result!
Contact me at firstname.lastname@example.org or 406.240.5860.