Buyer’s vs. seller’s market – and how to navigate each

You may have noticed the headlines: For many parts of the country, we’re now in a buyer’s market. For much of the country, these are conditions we haven’t seen since before 2020.

While that could be good for current house hunters and even currently sidelined, would-be sellers, trying to decide what a buyer’s vs. seller’s market actually means is a bit more complicated than it seems. After all, the definitions are straightforward and self-explanatory.

• Buyer’s Market: It’s a supply-and-demand thing. With more properties available than there are buyers, homes tend to stay on the market longer, and sellers may need to reduce prices to attract offers.
• Seller’s Market: More buyers in the market than available listings means quicker sale at higher prices.

And here’s what each group should do in such conditions:

Buyer’s Market

• For Buyers: A buyer’s market means more choices and less pressure. With plenty of homes on the market and less competition, you’ll have the luxury of taking your time to explore your options. This environment gives you stronger negotiating power, whether that pays off in securing a lower price, getting repairs or obtaining a seller concession or two

• For Sellers: Selling in a buyer’s market can take longer, so preparation is key. To stand out, it’s important to price your home competitively, invest in professional staging and tackle small upgrades. Showing flexibility with negotiations and being open to concessions can help draw in serious buyers, too.

Seller’s Market:

• For Buyers: In a seller’s market, speed and strategy are everything. With homes moving quickly and multiple buyers competing, it’s important to have been pre-approved for a mortagagte to show you’re serious about purchasing. Be prepared to write strong offers with limited contingencies to increase your odds of winning the home you love.

• For Sellers: A seller’s market puts you in a strong position, with high demand often driving up interest. While you may be able to list at a higher price, be careful not to overprice and risk turning buyers away. Multiple offers are common, giving you the chance to choose not just the best price but also the best terms—such as solid financing or fewer contingencies.

But here’s where this topic can get complicated. Not all markets are the same. One state, city, town or even neighborhood could be favorable to buyers while the next area over tilts in favor of the seller. That’s why paying attention to what is happening around you and taking advantage of the guidance and expertise of a trusted, experienced agent are imperative when it comes to your next real estate transaction.

After all, markets change – and you should be ready for anything. No matter what kind of activity is happening in your area, you deserve a notary partner who can streamline your process and make your closings easier. Let BBS Notary provide you with the secure, convenient and affordable mobile notary solutions you need to keep moving forward for your clients.