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JOELLEN WRIGHT

Sales Representative
2016-2018 President's Gold Award
Mobile:(519) 878-3337

London North

1673 Richmond Street,
London ON
N6G2N3
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.

 

All information is deemed reliable but is not guaranteed accurate by LSTAR. (ie. The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) program of the London and St. Thomas Association of REALTORS®. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.)

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.


Royal LePage Triland Realty, Real Estate Brokerage
1673 Richmond Street
London ON  N6G2N3
(519) 661-0380
Real Estate License # 2455579