You might have recently heard Realtors, buyers and sellers say “It is definitely a sellers’ market! “So what is a sellers’ market? Sounds pretty self-explanatory, but to answer that question a bit more in depth, the real estate market can fluctuate between favoring sellers or favoring buyers. Currently and over the past year or so, the market has been favoring sellers. Sellers recently have been noticing that they are able to sell their home for well above asking price. To get their offers accepted, buyers are also including attractive incentives in their offers such as paying all closing costs, purchasing the home “as is” and not requesting any repairs, offering a quick closing, etc.!
Over the past few weeks we have been noticing the market start to stabilize – Meaning homes are on the market for more than a few hours and buyers are starting to have a bit more negotiation compared to the past year.
