Mississauga real estate market conditions
Buyer, Seller and Balanced Market
Mississauga real estate market is always changing. It helps to understand how Mississauga market conditions can affect your position as a buyer or a seller. Amit can provide you with current Mississauga real estate market conditions-buyer's market/seller's market/balanced market and explain their impact.
One can experience a buyer's, seller's or a balanced market at the same time. This can be true for different price ranges or types of properties at a given time, e.g. there can be a buyer's market for homes/ condos in a particular price range and a seller's market for another price range. Again, this can be true for different neighbourhoods/ condominium complexes.
Buyer's Market
The supply of homes on the market exceeds demand. There is a high inventory of homes and few buyers compared to availability. Homes on the market stay longer and prices tend to drop. This give negotiating leverage to buyers.
Seller's Market
The number of buyers wanting homes exceeds the supply or number of homes on the market. There is smaller inventory of homes and many buyers. Homes sell quicklyn and prices usually increase. Buyers may have to pay more and make decisions quickly. Conditional offers may be rejected.
Balanced Market
The number of homes on the market is equal to the demand or number of buyers. Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period and prices generally stable. There is more relaxed atmosphere and there are a reasonable number of homes to choose from.
The sales-to-new-listings ratio measures the balance between demand and supply. A ratio of above 55 to 60 percent for a sustained period of time points to the seller's market conditions. A ratio below 55 percent is consistent with more balanced market conditions. The buyer's market represents a downward trend in home/condo sales and the sales-to-new-listing ratio of below 35 percent.
If you are thinking to buy or sell your home/condo or a builder new condo in Mississauga, call Amit to know more about the present real estate market conditions- buyers, sellers market, or balanced market that may be at play.
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