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Answers (8)
- Dave Jones, "DaveJonesRealtor"
- Contributions:258
It definitely varies by area. Here in central Connecticut it is a strong buyers market, but there has been a lot of activity. Two of our listings actually received Multiple offers this week!
- Vince Curtis, "SoCal Appraiser"
- Contributions:4698
Dont fool yourself, its pretty much a buyers market. Plus seasonally its an awful to sell. I ran quick comps in LA county
Avg list price - $662K
Avg sale price - $228K
Avg days on market - 81
Avg GLA - 1851
sampling was 53,000 SFR's. As you can see there are a lot of high priced homes on the market, but the only ones selling are the low ones..
Dataquick says here that the median sale price for a home (includes condos) in Southern California (including other counties) was $283,000.
I would love to see some stats (actual data not opinions) showing uptrends - anywhere in the country.
Avg list price - $662K
Avg sale price - $228K
Avg days on market - 81
Avg GLA - 1851
sampling was 53,000 SFR's. As you can see there are a lot of high priced homes on the market, but the only ones selling are the low ones..
Dataquick says here that the median sale price for a home (includes condos) in Southern California (including other counties) was $283,000.
I would love to see some stats (actual data not opinions) showing uptrends - anywhere in the country.
- Dan, "the_country_hick"
- Contributions:4691
If a seller desperately wants to sell and will take a very low price it is a buyers market.
If a buyer desperately wants a house and will pay anything to get THAT house it is a sellers market.
Since most of the time we just need to look at housing inventory and compare it to buyers wanting to buy in most of the country it is the buyers who have the advantage now.
Buyers that have waited do not mind waiting awhile longer to buy. Waiting really costs them very little if anything. Often the are renting for less than buying would cost.
Sellers who want to sell or worse yet NEED to sell are finding every extra month is costing them a lot of money. Their mortgage, insurance, and taxes are costing them more every month. Add in declining values and taking a reduction in price now could cost them a lot less than waiting for a higher price that may never come.
If a buyer desperately wants a house and will pay anything to get THAT house it is a sellers market.
Since most of the time we just need to look at housing inventory and compare it to buyers wanting to buy in most of the country it is the buyers who have the advantage now.
Buyers that have waited do not mind waiting awhile longer to buy. Waiting really costs them very little if anything. Often the are renting for less than buying would cost.
Sellers who want to sell or worse yet NEED to sell are finding every extra month is costing them a lot of money. Their mortgage, insurance, and taxes are costing them more every month. Add in declining values and taking a reduction in price now could cost them a lot less than waiting for a higher price that may never come.
- David & Maria-Nella Landman, "PrimeOne Realty"
- Contributions:101
It is mixed, if the price is right is a sellers market 100%!!, if you hold a short sale with a good price posted by the lender, you will get lots of offers, if your seller will like to get what they paid in the golden years, they will better stay at home for another 3 years at least, so everything is relative to each case
- jal74
- Contributions:1077
Neither
There are no more credit worthy buyers. Sellers are fighting against a massive tide of distressed properties.
The only thing you can really say about this real estate market is that after 4 plus years of decline there are obviously still way to many REA's shilling for an ever declinging slice of the commission pie
You know when you come on these sites and post these types of posts, all anyone really sees is a used house salesperson who is late on their mortgage and car payments and is just yelling to the rafters, " I need that commish"
Regards
There are no more credit worthy buyers. Sellers are fighting against a massive tide of distressed properties.
The only thing you can really say about this real estate market is that after 4 plus years of decline there are obviously still way to many REA's shilling for an ever declinging slice of the commission pie
You know when you come on these sites and post these types of posts, all anyone really sees is a used house salesperson who is late on their mortgage and car payments and is just yelling to the rafters, " I need that commish"
Regards
- amboy1
- Contributions:12
Thats a very good question.
It is a buyers market if you have cash.
If you are financing to buy its a good time too
because interest rates are low.
It would not really be a sellers market compared to other seasons.
Prices of homes are low.
It is a buyers market if you have cash.
If you are financing to buy its a good time too
because interest rates are low.
It would not really be a sellers market compared to other seasons.
Prices of homes are low.
- sunnyview
- Contributions:25120
Whether it is a buyers or sellers market really depends on where you live. Real estate market balances are local.
- Rosana Shekman, Broker ABR, "Rosana Shekman Owner"
- Contributions:700
It's a buyer's market right now!
Is it a Buyer's Market or a Seller's Market?
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- 5.0/5.0
- (2 reviews)
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