Pam Santoro: Alpharetta, GA Real Estate Agent

Hot, Cold, Neutral: Which Real Estate Market is Best?

When is the best time to buy or sell a home? While most people don’t give it a lot of thought, you may need to consider the condition of the real estate marketplace before you start looking for a new home or put your old one in the market. Why? It’s because doing so can help you achieve what you have set to accomplish.

Types of Real Estate Market

Basically, real estate markets fall into either one of these three major categories – buyer’s markets, seller’s markets, and/or neutral markets.

Buyer’s Market

A buyer’s market or cold market exists when there are more homes available for sale than buyers who are willing to purchase them. Since buyers will have more houses to choose from, they will have a better chance of finding the perfect home for less since serious sellers would be more willing to negotiate the price and/or terms of the sale. Needless to say, this is the best time if you’re looking to buy a home.

Seller’s Market

If you want to sell your home, then you should definitely consider doing so when the market is hot. Since there are more buyers than available inventory in a seller’s market, serious buyers will be more willing to pay a premium and/or negotiate the terms of the sale just to secure the deal. Besides the fact that you can sell your house faster in a hot seller’s market, there is also a possibility that you’ll get more than what you ask for it.

Neutral Market

While the previous markets swing in favor of either the buyers or the sellers, the conditions are more stable in a neutral market.  In a neutral market, median sales prices don’t fluctuate as much, interest rates are more affordable, and there is an equal number of buyers and sellers in the market.

If you’re still not sure whether it’s the perfect time to buy or sell your home, please feel free to contact me at 678-656-6627, and I will do my best to help you do what you have set to accomplish. You can also visit my site at www.pamsantoro.com for more tips on selling or buying a home. 

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