Pros and Cons of a Seller's Market in Georgina

 

There can be a lot of pros to selling your home during a seller's market, but there can be cons as well. Especially if you are trying to buy a new home at the same time. 

 

 

Those who are selling in a market without a lot of competition are usually able to get higher prices for their homes.

 

 

On the flip side, since many sellers are also looking to buy another property after they sell, the higher home prices could become a disadvantage.

 

 

In a seller's market, homes don't stay on the market for long. In some cases, a desirable home in a great neighbourhood could sell within the first week.

 

 

Timing your home sale can be a struggle. There are usually about two months in between the time that you accept an offer on your home and the day that you close the sale. In a seller's market, your home may sell quicker than you expect. 

 

 

When there's a lot of homes on the market, sellers may have to bend to the will of the buyer. They may need to pay for repairs, accept a lower offer, or otherwise agree to unfavourable conditions attached to the sale. In a seller's market, you are in a much better position to negotiate. You may even get multiple offers on your home so you won't feel pressured to give in to the buyer's demands. 

 

 

If you are a buyer in a seller's market you may not be in the best position to negotiate.

 

There's no doubt that you'll have an easier time selling your home during a seller's market, but no matter the market, the right time to sell your home is when you're ready to move.