How to Buy in a Seller’s Market

Here are a few tips for buying a home in a seller’s market.What’s the best strategy to buy in a seller’s market?

First, you have to know whether you really are in a seller’s market. Many people assume every price point is a seller’s market, but that’s not the case. Usually, a seller’s market is anytime there are less than three months of inventory.

If you’re looking under the $350,000 price point in our area, it’s a seller’s market. If you’re looking between $350,000 and $500,000, that’s more of a neutral market. Anything above $500,000 (aka the luxury market) is more of a buyer’s market. Of course, this also depends on factors like location, timing, etc., so be sure to reach out to your local agent to find out what kind of market you’re in. 

That being said, here are the tips you must remember to get the home you want in a seller’s market. 

First, get your offer in before anyone else. Every time a property that fits your criteria hits the market, your agent will notify you about it within an hour, so if you think it’s a home you might buy, set up a showing as soon as possible so you can submit your offer. Being the first to view the property and the first to make an offer makes a world of difference. 

To get to that point, you need to be well-educated, so spend some time looking at houses in person and online. Also, make sure you hire an agent who communicates well with you. 

We would love to be that agent for you, so if you’d like to learn additional tips and strategies for buying in a seller’s market, don’t hesitate to give us a call. If you have any other real estate needs, feel free to reach out to us as well. We look forward to hearing from you.