We’re in a Sellers’ Market - What Does That Mean?

Dated: March 30 2023

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We're in a Seller's Market - What does this mean?

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house?

It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):

What Does This Mean for You?

When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find one to purchase. That creates increased competition among purchasers and keeps upward pressure on prices. And if buyers know they’re not the only one interested in a home, they’re going to do their best to submit a very attractive offer. As this happens, sellers are positioned to negotiate deals that meet their ideal terms. Lawrence Yun, Chief Economist at NAR, says:

“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”

Right now, there are still buyers who are ready, willing, and able to purchase a home. If you list your house right now in good condition and at the right price, it could get a lot of attention from competitive buyers.

Bottom Line

Today’s sellers’ market holds great opportunities for homeowners ready to make a move. Listing your house now will maximize your exposure to serious, competitive buyers. Let’s connect to discuss how to jumpstart the selling process.


Check out our other contents:

  • Are You Thinking About Buying a Home? The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall, this free eGuide below will answer many of your questions.
  • Are you planning to sell your house this 2023? It's difficult to know when is the best time to sell, or how to get the most money for your house, but you don't need to go through the process alone. Download this Free Seller Eguide to answer all your questions!
  • Curious about the current value of your house? Check your Home Estimate.
  • Planning to buy a house in ScarboroughSacoPortlandOld Orchard BeachKennebunkSouth PortlandGorham, and Westbrook? You must be well aware about the status of their Housing Market, check this video to check the latest Market Udate of these towns.
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Rob Edgerley

Rob has built an organization dedicated to assisting his clients during every aspect of the transaction. He leads his company with the highest level of integrity and hard work. You will have a team of....

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