BTW, before I get into the presentation, there is a good book written by the founders of Keller Williams. It’s Called “Shift”. Google it for more information on the topic.
However, today I’m going to speak as an industry professional. A professional Real Estate Salesperson.
Depending on the time of year, season and overall economy three paramount real estate market condition scenarios exist.
We may be 100% in the full swing of a Sellers real estate market.
The Sellers market is lacking real estate and homes for sale. The real estate buyers are out in droves and, in some cases, the investors are making offers that are all cash and are waiting their appraisal contingency.
The days on market timeframes are very short and when a property is placed onto the market it obtains multiple offers in short order.
Sometimes in the case of it being a Sellers Real Estate market, we see that there is a lot of “distressed” real estate inventory in the way of short sales and bank owned foreclosures.
A real estate buyers market exists when Days on Market timeframes are extended above those in a Sellers market.
We see that there is an overabundance of real estate inventory and that buyers are not plentiful enough to keep the market in a “competitive nature”.
The typical real estate inventory is being priced to a point that is pushing the buyers, with a “median affordability” quotient, to a point of not being able to “afford” to buy real estate.
Variations of and the Transitional Phases
And of course, you have those real estate markets that are in transition(in the process of shifting). Somewhere between the full swing of a sellers real estate market and the full swing of a Buyers Market.
Additional Resources: We have our real estate market Reports by email – check them out here.
A Top Producing Realtor, one that is not just saying that, but can prove that, will be your best advocate.
They can advise you as to what type of market exists in the present day and show you how to best take advantage of “that” market.