Wondering what makes a buyers or sellers market?? Check out the graphic and see our explanation below.
Average number of months on the market can greatly affect appreciation within that market.? As the graphic above states, homes that are on the market for less than six months will appreciate, or grow in value.? Think about it like this: if homes are being bought more quickly, there is a high demand of homes.? Higher demand means that prices grow, making it a sellers market.
On the other hand, if homes are on the market for more than 7 months, they will depreciate, or decrease in value.? When buyers are not jumping to buy homes, demand dwindles, the market becomes saturated, and sellers must compete to attract buyers attention, making it a buyers market.