What is a Seller’s Market?
July 8, 2014 | Tom Ashworth
The Burnet Texas real estate market is called a seller’s market when the seller has the best market condition. The seller has the market condition when the demand for homes is high and the supply of homes available is low. When this happens and the economic conditions remain stable the seller is able to put his or her house on the market at a higher price.
Demand is when there are many buyers ready to make a purchase. Demand is controlled by rising prices and low interest rates – both of which create urgency for those looking to buy a home.
In certain areas, homes are selling very quickly, sometimes well above the listed price. This is because there are currently less houses available than people who want to buy them. This leads to competition for the houses, which ultimately benefits the seller.
There are times when the appraisal does not match the sale price even after an agreement has been made between buyer and seller. This can cause tension and irregularities in the real estate transaction.
Typically, someone selling a home is looking for the best price in the least amount of time. Contact Tom Ashworth at (208) 830-7991 and let us help you analyze the Burnet Texas real estate market and find the best time for you to sell your home.