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Things to consider when selling home in balanced market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

For the first time in many years, experts believe we're heading toward a balanced market. A balanced market is one that favors neither buyers nor sellers. In a seller's market, buyers usually face a lot of competition. They often need to bid over the asking price and waive contingencies to get an offer accepted. In a buyer's market, there are more sellers than buyers. Listings take longer to sell; buyers can afford to be choosy. A balanced market is somewhere in between a seller's and a buyer's market. However, even in a balanced market, you'll find pockets of variability depending on supply and demand. For example, in desirable neighborhoods where inventory is low, a balanced market might exhibit characteristics of a seller's market. However, this will only be the case for well-priced listings that are in prime condition, or priced-to-sell fixer-uppers that have a lot of upside potential. In a hot seller's market, virtually everything sells. This is not the case in a more balanced mar...