The Market has drastically SHIFTED ! We are now clearly in a Sellers Market . What has caused
this ? It goes back to the Law of Supply and Demand . When calculating our supply of inventory of
available listings (for sale) we are seeing scarcity in all price points below $300,000 ! In some cases
there are less than 10 homes to view/tour with in a $25,000 price span .
What are some of the characteristics that will affect Buyers as a result of this shift ?
1. Correctly prepared listings will not last long on the market ! Days On Market will
drop below 30 days ( DOM) !
2. Many buyers will find themselves in competition with other buyers, once they've
located the house of their dreams . Many will fall victim to the dreaded Multi Offer !
3. Prices will be driven upward ! Simply stated , you will have to pay more to beat
competitive offers !
4. You will have to be a Quick Decision Maker. Any delay could cost you the home !
How should a Buyer position themselves in this Sellers Market ?
1. More than ever you need Representation ! You need a proactive Advocate , not merely
a real estate licensee !
2. The REALTOR you are working with must be both knowledgeable and expert in the
specific marketplace you're searching in !
3 . You need to have your Financing in order , by being PREAPPROVED !
Surviving and Succeeding in a Sellers Market takes both patience and a plan .