The Real Estate Market tends to fluctuate between three main types of markets. It is helpful to understand which of these market types you are dealing in when buying or selling a home.

The table below will help you to understand the characteristics to expect in each market type.

Market Type Characteristics
Buyers' Market
The number of homes on the market is greater than the number of buyers.		 More homes for sale.
Fewer buyers in the market.
Homes usually take longer to sell.
Prices stabilise or sometimes decrease in price.
Sellers' Market
The number of buyers exceeds the number of homes on the market.		 Fewer homes for sale.
Many buyers in the market.
Homes sell quicker.
Prices generally increase.
Sellers may receive offers from more than one buyer.
Balanced Market
The number of homes for sale is approximately equal to the number of buyers.		 The number of homes for sale equals the number of buyers in the market.
Sellers will consider reasonable offers.
Homes sell within reasonable time frames.
Prices are generally stable.