Listing in a Sellers Market Benefit 4:
What is a Seller’s Market?
A market is called a seller’s market when demand starts exceeding supply. This often results from low housing inventory which boosts competition between homebuyers and allows sellers to raise their prices. There are numerous advantages in selling a home in a seller’s market.
Low inventory in Central Florida’s strong seller’s market has pushed home sale prices up by around 3.4% from last year per Zillow. Also, more buyers living and working at home for significant periods due to Covid-19 in conjunction with historic low-interest rates have created a market with even more buyers. This has resulted in multiple offer situations and home selling much quicker than usual.
Here is the 4th benefit when listing in a seller’s market.
- Higher Negotiation Leverage
In a seller’s market, sellers always have a stronger hand at negotiation tables. Most buyers are faced with the fear that another offer may come in during their negotiations. This makes them more willing to bow to your demands to close the deal. This leverage gives the seller more control over the price and closing dates.