Q: What’s the difference between a buyer’s market and a seller’s market?
A:
A buyer’s market happens when there are more homes for sale than buyers. This gives buyers more choices, more negotiating power, and often better prices.
A seller’s market happens when homes are in short supply. Buyers compete for fewer listings, which can drive up prices and lead to faster sales.
Q: How can I tell which market we’re in?
A:
There are a few key indicators:
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Inventory levels: High inventory usually means a buyer’s market. Low inventory often favors sellers.
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Days on Market (DOM): Longer DOM points to a buyer’s market. Shorter DOM means homes are selling fast—typical of a seller’s market.
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Pricing trends: Rising prices suggest a seller’s market. Stable or falling prices may point to a buyer’s market.
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Months of inventory: More than 6 months = buyer’s market. Less than 6 months = seller’s market.
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Interest rates: Lower rates can heat up buyer demand, tipping the scales toward sellers.
Q: Why does this matter if I’m buying or selling?
A:
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For buyers: It impacts how aggressively you’ll need to make offers and whether you can negotiate for extras.
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For sellers: It helps you price your home correctly and know what to expect when listing.
Q: How can I find out what kind of market we’re in right now?
A:
Market conditions can shift fast. A quick conversation with a trusted local real estate team can give you up-to-date info tailored to your neighborhood.
Wondering what kind of market Spokane is in? Let's chat!
