A buyer’s market occurs when the supply (available homes for sale) exceeds demand (the number of buyers seeking to purchase homes).
Establishing the sales price of your home is especially important to getting your home sold.
Seller’s markets occur when demand exceeds supply. For Example, there are more buyers seeking to purchase, than homes for sale on the market. This often leads to multiple buyers interested in a single property, resulting in bidding wars or highest and best scenarios.