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How market types can tell you when it’s the best time to sell a house

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Buyer's vs Seller's Market

Do you know the difference between a seller's market and a buyer's market?

Seller’s Market definition

Seller’s Market indicates that there are a lot of home buyers (highdemand) but not very many homes on the market (low-supply).

Signs of a Seller’s Market:
  • number of listed homes on the market is low compared to previous months and years
  • Listing prices are considerably higher than prior sales and are on the rise
  • The overall closing percentage is increasing
  • Number of days that properties remain on the market is decreasing
     
Buyer's Market definition

A Buyer’s Market occurs when there are too few buyers for the number of properties on the market. This would be a good time for first-time home buyers to enter the market.

Signs of a Buyer’s Market:

  • The number of listed homes on the market is higher compared to previous months and years
  • Listing prices are considerably lower than prior sales and are on the decline
  • A lower overall closing percentage
  • Number of days that properties remain on the market is increasing
     
Neutral Market definition A Neutral Market indicates a relatively similar number of sellers to buyers in the market.

Signs of a Neutral Market:

  • The number of listed homes on the market is steady
  • Listing prices remain consistent with prior sales
  • The overall closing percentage is reliable
  • Properties remain on the market for consistent periods of time
     

If you’d like to read more about selling your property, download our free Home Seller’s Guide. You’ll need to enter your email address so we can send you this e-book, but we promise you won’t be spammed.

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