Whether you are buying or selling a home in 2022, the state of the real estate market is important to consider. The answer to “is St. James City a buyer’s or seller’s market” will impact every aspect of your real estate transaction.
To find out “is St. James City a buyer’s or seller’s market”, we’ve broken down the differences in the types of markets and explore the current state of the market in St. James City.
What is a Buyer’s Market Versus a Seller’s Market?
To better help you make an informed decision on whether to buy or sell in 2022, here we break down the differences between a buyer’s market and a seller’s market.
A buyer’s market gets its name because the conditions of the market favor the homebuyer. The demand for homes for sale is less than the supply of homes. This leads to lower prices and homes selling less quickly than in a seller’s market. It also means that homebuyers have the advantage in negotiations and may be able to negotiate for better terms.
A seller’s market, on the other hand, means that the conditions favor the home seller. This means that the demand for homes for sale is greater than the supply, leading to a very competitive market. Homes sell quickly and at higher prices than in a buyer’s market. The home seller has the upper hand in negotiations and more homes are sold “as is” as a result.
Is St. James City a Buyer’s or Seller’s Market?
So, is St. James City a buyer’s or seller’s market?
As of 2022, St. James City is a seller’s market. Homes sell quickly and at higher prices than in a buyer’s market, leading to a very competitive market. Homebuyers must act fast to get in an offer before an expensive and stressful bidding war starts.
Buying or Selling a House in St. James City
Don’t let the state of the market ruin your real estate transaction. At Your Home Sold Guaranteed Realty – Vasbinder International, we can help you buy or sell a home regardless of the state of the market. To get started on your real estate journey today, call us at 239-990-8290, contact us here, or complete the form below.