The real estate market hasn’t always been predictable – but your Aspen real estate agent can tell you whether we’re currently in a buyer’s market or a seller’s market.
So what do those two terms mean?
What is a Buyer’s Market?
Real estate pros consider it a buyer’s market when there are more houses for sale than there are buyers to scoop them up.
There were buyer’s markets all across the country during and after the Great Recession in 2008. Home prices sunk, people foreclosed and left empty homes, and builders couldn’t get buyers to take their new inventory off their hands.
Typically in a buyer’s market, sellers have a more challenging time selling. If buyers don’t like a home, it’s easy to move on and find one that they do like.
What is a Seller’s Market?
A seller’s market is opposite from a buyer’s market. There are fewer homes available for buyers, and buyers are there waiting for an opening to come along.
There were seller’s markets all over the country leading up to the Great Recession. Multiple buyers were bidding on homes, driving up prices.
Often in a seller’s market, sellers can price a home fairly and expect several offers (maybe not bidding wars, but at least multiple offers).
However, every home is different – and there’s no guarantee what will happen when you’re buying or selling.
Are You Buying a Home in Aspen or the Surrounding Communities?
We’d love to help you find your dream home here. Call us at 970-429-8275 or contact us online to let us know what you’re looking for so we can start searching right away.
While you’re here you can also browse our:
- Aspen real estate listings
- Basalt real estate listings
- Carbondale real estate listings
- Snowmass real estate listings
- Woody Creek real estate listings
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