| Market conditions | Characteristics | Implications |
| Buyer’s Market The supply of homes for sale on the market exceeds the demand. | High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop. | More time to look for a house. More negotiating leverage. |
| Seller’s MarketThere are more buyers looking to buy homes there are homes on the market. | Smaller inventory of homes. Many buyers. Houses sell quickly. Prices usually increase. | May have to pay more and make decisions quickly. Conditional offers may be rejected. |
| Balanced MarketThe number of homes on the market is equal to the number of buyers. | Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable. | More relaxed atmosphere. Reasonable number of houses to choose from. |
A home inspection prior to purchasing a home or condominium can bring peace of mind when you sign the sales contract. Knowing what to expect both inside and out will help you make an informed decision about the value of the home and the future upkeep. A home inspection accomplishes two important goals. First, it…
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There’s little doubt that Canadians are on the move. Whether moving from an apartment to a home, apartment to apartment or home to home, moving is no simple matter. With careful planning, however, your transition can be facilitated in an organized and efficient manner, allowing you the peace of mind you need to settle into…
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Buying or selling a home in today’s market requires a lot of work and a lot of knowledge about sales and real estate. It’s one of the largest purchases or biggest business transactions many of us will ever make. It doesn’t pay to depend on blind luck. Whether you are a buyer or a seller,…
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When buying a home, the neighbourhood you select will not only play a pivotal role in your family’s life, but in the resale value of the property. One person’s ideal neighbourhood however may vary greatly from another’s. But, regardless, there are some needs and wants that generally do not change. The distance from your new…
DetailsMLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned and administered by CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA’s Data Distribution Facility (DDF®)
