Buying or selling a home is a big decision. One factor to consider in either case is the state of the current 2022 market. Asking “is Surprise a buyer’s or seller’s market” is crucial to the success of your real estate transaction.
So, is Surprise a buyer’s or seller’s market? Below we break down what each type of market means to buyers and sellers and what the current state of the market in Surprise means for you.
What is a Buyer’s Market Versus a Seller’s Market?
To 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.
A buyer’s market is just that – a real estate market that favors the buyer. In a buyer’s market, the supply of homes for sale is greater than the demand for these homes from homebuyers. This means that homes typically sell at or below asking price. It also means that homes don’t sell as quickly as they would in a seller’s market, giving prospective homebuyers the luxury of taking their time putting in an offer. Finally, a buyer’s market means that the buyer has the upper hand during negotiations and may be able to negotiate for things like repairs before signing on the dotted line.
A seller’s market is the opposite of a buyer’s market – it favors the seller. This means that the demand for homes for sale is greater than the supply. This high demand makes a seller’s market very competitive. Homes sell at or above asking price and sell quickly. This means that homebuyers must act quickly to put in an offer to avoid expensive and stressful bidding wars. Finally, a seller’s market means that the home seller has the upper hand in negotiating and may be able to insist on the home being sold “as is”.
Is Surprise a Buyer’s or Seller’s Market?
So, is Surprise a buyer’s or seller’s market?
Currently, Surprise is a seller’s market. This means that prices are higher and homes sell quickly.
For buyers in a competitive seller’s market, it’s important to act fast when putting in an offer. Having first access to the newest listings is vital to avoiding a bidding war, which can drive up the price of the home even more.
Buying or Selling a House in Surprise
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.