Market Conditions

What are Market Conditions? How do They Affect the Buying Process?

The real estate market is always in flux, and this means that the value of your property (how much you can buy or sell it for) depends upon market conditions at that given time.

When it's a Buyers Market...

The supply of homes exceeds the number of buyers (supply is greater than demand).  In this market, prices tend to drop and the homes stay on the market longer. Thus, your home may take longer to sell and you will have less negotiating power in terms of the selling price.  Fortunately, you will be in the driver's seat when making an offer on your next home.

When it's a Balanced Market...

The number of homes on the market is equal to the number of buyers (supply equals demand). In this market, prices are stable and homes sell within a reasonable period of time. It is a calm atmosphere with buyers having a satisfactory number of homes from which to choose.

How Do I find out Current Market Conditions?

If you're wondering if market conditions are favorable for you to buy a property, contact Toronto Realtor® Lina who will be more than happy to provide you with current real estate market conditions and explain their impact to you.