Whether you are buying or selling a home, knowing the state of the real estate market where you live is important. “Is Glendale a buyer’s or seller’s market” is a question you should ask yourself before you embark on your real estate journey. So, is Glendale a buyer’s or seller’s market? The answer may surprise you!
What is a Buyer’s Market Versus a Seller’s Market?
To better help you make an informed decision on whether to buy or sell in 2022, here we break down the differences between a buyer’s market and a seller’s market.
When an area is in a buyer’s market it means that the real estate market favors the homebuyer. This means that the supply of homes for sale is greater than the demand. This leads to homes selling slower and for less money than a seller’s market. It also means that potential homebuyers have greater power in negotiating conditions, such as having the home seller pay for major repairs before they sign on the dotted line.
A seller’s market, on the other hand, favors the home seller. This means that the homes sell quickly and for more money, because the supply of homes for sale is less than the demand from prospective homebuyers. Also, home sellers have the upper hand in negotiations so more homes are sold “as is”.
Is Glendale a Buyer’s or Seller’s Market?
So, is Glendale a buyer’s or seller’s market?
As of 2022, Glendale is a seller’s market. Homes sell quickly and for higher prices than in a buyer’s market. In such a competitive market, it’s important for homebuyers to act quickly when putting in an offer to avoid expensive and stressful bidding wars.
Buying or Selling a House in Glendale
At Your Home Sold Guaranteed Realty AZ, we can help you buy or sell a home regardless of the state of the market. To get started on your real estate journey today, call us at 623-283-2067, contact us here, or complete the form below.