Realtor Analysis: Is Wittmann a Buyer’s or Seller’s Market?

Are you considering buying or selling a home in 2022? It’s important to know: is Wittmann a buyer’s or seller’s market? The state of the market will affect every aspect of your real estate transaction from start to finish. As such, the influence of current market trends can be seen throughout Wittmann as well as the entire nation. So is Wittmann a buyer’s or seller’s market? The answer may surprise you!

What’s a Buyer’s Market Versus a Seller’s Market?

To help you make an informed decision, here we break down the difference between a buyer’s market and a seller’s market.

Buyer’s Market

In a buyer’s market, the conditions favor the homebuyer. There are more houses available for sale than the demand from homebuyers. This means that prices are lower and that potential homebuyers have more power in negotiations, such as negotiating for repairs to be made to the home. It also means that homes don’t sell as quickly, so homebuyers have the ability to take their time when submitting an offer.

Seller’s Market

Conversely, a seller’s market favors the seller. There is a larger demand for houses for sale than there are homes available, making the market very competitive. This means that prices tend to be higher and that the potential homebuyer has less power in negotiating. Homes tend to sell quickly so homebuyers have to act fast to put in an offer before a bidding war starts that drives up the price. 

Is Wittmann a Buyer’s or Seller’s Market?

So, is Wittmann a buyer’s or seller’s market? Currently, Wittmann is a buyer’s market – the supply of homes is greater than the demand for them. 

The current buyer’s market can be seen in recent real estate statistics. To illustrate, in September 2022 the average sale time of a home was 69 days, compared to 47 days a year earlier. Also, 33% of homes were sold under asking price, while 66.7% of homes were sold near asking price. This means that buyers have the luxury of taking their time when submitting an offer and that prices aren’t being driven up by multiple offers. 

Buying or Selling a House in Wittmann

If you’re buying or selling a house in Wittmann you need an expert realtor by your side. At Your Home Sold Guaranteed Realty AZ we understand the pressures of the real estate market and have the experience needed to help you buy or sell a home regardless of what the market conditions are. To get started today, call us at 623-283-2067, contact us here or fill out the form below.


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