Sellers’ Market vs Buyers Market [INFOGRAPHIC]

Sellers’ Market, Buyers’ Market, Neutral Market…How are these things defined? If we look at the average time it takes to sell a home – that is the basis for establishing which market we are in.

Buyers’ Market = 7 months or longer on average to sell a home

Neutral Market = 6-7 Months on average to sell a home

Sellers’ Market – Less than 6 months to sell a home

So with that in mind let’s look at why it’s still a Sellers’ Market [INFOGRAPHIC]

Some Highlights

  • While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low.
  • The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price.
  • You haven’t missed your opportunity to sell. Let’s connect to start the process today.

Source: Michigan Real Estate Updates

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