To decide the best time to sell, it’s critical to understand the current state of the East Bay housing market. The real estate market can shift between a seller's market, a buyer's market, or a balanced market, and these conditions will directly influence the timing and success of your home sale.

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Seller's Market

A seller's market occurs when there are more buyers than homes available, leading to high competition among buyers. This is an ideal time to sell, as multiple offers can drive up the price of your home. In a seller’s market, homes often sell quickly, with less need for significant price reductions or concessions.

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Several indicators that you are in a seller’s market include:

• Low inventory of homes for sale

• Homes selling above asking price

• Shorter days on market (DOM)

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Buyer's Market

In a buyer's market, there are more homes for sale than buyers, meaning buyers have the upper hand. Sellers may need to price their homes more competitively and be prepared to make concessions, such as paying for closing costs or making repairs.

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Indicators of a buyer’s market include:

• High inventory of homes for sale

• Longer days on market (DOM)

• Homes selling below asking price

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Selling your East Bay home in a buyer’s market may not be ideal if you’re looking to get top dollar. However, if your home is well-maintained, priced right, and marketed effectively, it can still stand out to serious buyers.

Balanced Market

In a balanced market, neither buyers nor sellers have a clear advantage. The supply of homes matches buyer demand, and home prices typically stabilize. While this market doesn’t generate the bidding wars of a seller’s market, you can still get a fair price if your home is competitively priced and staged well.

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Learn more: https://www.ronmelvin.com/copy-of-home-buying