Sellers Market - RI Real Estate Services
CategoriesRhode Island Real Estate, Tips & Insights

What is a Seller’s Market?


When the demand for housing outstrips supply, it’s referred to as a seller’s market. During this time, sellers have an upper hand in getting top dollar for their property due to high competition and limited availability of homes.

If demand for housing is high, you and your real estate agent will find yourselves with lots of offers to consider in order to meet your needs. This flexibility gives you the opportunity to select an offer that works best for you!

To ensure success when selling in a seller’s market, it is important to note the following expectations:

1. Homes May Sell More Quickly

If you’re selling in a seller’s market, prepare to be impressed with the speed of your home sale. You’ll likely notice increased competition between buyers eager to purchase well-priced homes quickly. This means good news for sellers since they can capitalize on the equity from their home sale and buy new property sooner.

2. Homes May Receive Multiple Offers

When the demand for homes is higher than what’s currently available on the market, it often leads to multiple buyers competing for a single listing; and when this occurs in your neighborhood alone, you can expect an abundance of offers. Consequently, this competition not only stimulates home sales prices but also provides sellers with better terms overall.

When comparing multiple offers, it is imperative to take into account the entire scheme of things before making a decision. The most expensive option may not always be your best choice. Chat with your real estate expert and contemplate which offer has just what you need for yourself and your family members.

3. Sellers May Not Need to Make as Many Concessions

Agreeing to seller concessions during negotiations can be an immensely helpful way for buyers to reduce costs. Whether it is closing fees, home insurance premiums or HOA dues, these concessions are designed with the purpose of encouraging purchasers and pushing them towards moving forward on their investment.

If you’re selling your home in a buyer’s market, chances are that you’ll need to add seller concessions for the deal to be successful. By contrast, if it is a seller’s market and there is high demand from buyers–you may not have to include incentives as they’ll already be enticed by what’s on offer!

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