| 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. |
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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The one thing about participating in the real estate market that confounds most consumers is the terminology and jargon that must be learned. But, as with any business, in order to be successful as a buyer or seller, it is necessary to become familiar with certain concepts and words. The real estate business is somewhat…
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Getting the maximum exposure possible is a key part of any home sale. That’s why it pays to sell your home with the help of a REALTOR® through the Multiple Listing Service (MLS). MLS provides details of your home to all real estate professionals in the area and markets the property to a broad range…
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It’s an exciting time. Your offer has been accepted. You can’t wait to move into your new home. But don’t start celebrating yet. There is one final stage involved in purchasing a home — closing the deal. Closing is the point at which ownership and usually possession of the property is transferred from the seller…
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®)
