JoEllen Wright, Sales Representative, London Ontario, Royal LePage Triland Realty

JOELLEN WRIGHT,

Sales Representative,

Phone:(519)661-0380

Fax:(519) 661-0998

joellenwright@bell.net

London North

1673 Richmond Street, London ON N6G 2N3
CA

Understanding Market Conditions
The real estate market is always changing. It helps to understand how market conditions can affect your position as a buyer.

MARKET CONDITIONS	CHARACTERISTICS	IMPLICATIONS
Buyer's Market: The supply of homes on the market exceeds demand.	High inventory of homes. Few buyers compared to availability.	More time to look for a home. More negotiating leverage.

Seller's Market: The number of buyers wanting homes exceeds the supply	Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase.	Have to pay more. Make decisions quickly. Conditional offers may be rejected

Balanced Market: The number of homes on the market is equal to the demand or number of buyers.	Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.	More relaxed atmosphere. Reasonable number of homes to choose from.