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Bob Ferguson, your Royal LePage Real Estate Professional can provide you with current real estate market conditions and explain their impact.
| Market Conditions | Characteristics | Implications |
| Buyer's Market: The supply of homes on the market exceeds demand. |
High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop.
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More time to look for a home. More negotiating leverage. |
| Seller's Market: The number of buyers wanting homes exceeds the supply or number of homes on the market. |
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase.
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May have to pay more. Make decisions quickly. Conditional offers may be rejected. |
| Balanced Market: The number of homes on the market is equal to the demand or number of buyers. |
Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.
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More relaxed atmosphere. Reasonable number of homes to choose from. |
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What I want in my new home | The major elements of an offer | How to make an offer
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Land Transfer Taxes | Moving Tips | The Home Buyer's Glossary of Terms
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