When you’re looking to sell a home or buy a home in Pleasanton, Castro Valley, Livermore, and the surrounding areas, it’s important to understand the market conditions and what those mean for you. That’s because understanding whether it is currently a buyer’s market or seller’s market can help you make better decisions when selling or buying.
At The Kristy Peixoto Team at Legacy RE, we are here to help you sell a home or buy a home in the Pleasanton, Castro Valley, and Livermore area. Learn more about the different markets and contact us today to get started with the process!
A Buyer’s Market
A buyer’s market is when the supply of homes for sale exceeds the demand, meaning there are more sellers than buyers. This situation is beneficial for buyers, as they have more choices and can usually negotiate lower prices from sellers who may be competing with each other. Buyers should take their time when looking for a home, as they may be able to find a great deal.
How To Know if It’s a Buyer’s Market?
In a buyer’s market, there will be a larger selection of homes to choose from in varieties of styles and prices. Prices may also be lower due to the increased competition among sellers.
A Seller’s Market
A seller’s market occurs when the number of buyers exceeds the number of sellers. This is beneficial for those looking to sell, as there is competition among buyers and prices are driven up. Sellers can sell their homes quickly and for a higher price. Those looking to sell should take advantage of the market conditions and list as soon as possible, so they don’t miss out on any potential buyers.
How To Know if It’s a Sellers Market?
In a seller’s market, there will be fewer homes for sale, and prices may be higher due to the competition among buyers. Homes sell quickly and sometimes sell for above asking price.
Work With Our Team of Real Estate Experts Today!
Whether you’re looking to buy a home or sell a home in Pleasanton, Castro Valley, Livermore, or the surrounding areas, The Kristy Peixoto Team at Legacy RE can help get you the best outcome. Contact us today to learn more about our services and start the process!
