The Muskoka real estate market is always changing. It helps to understand how current Muskoka market conditions can affect your position as a buyer. We can provide you with current real estate market conditions specific to the Muskoka area and can explain their impact.
|
MARKET CONDITIONS |
CHARACTERISTICS |
IMPLICATIONS |
|---|---|---|
|
Buyer’s Market: The supply of homes on the market exceeds demand |
High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop. |
More time to look for a home. More negotiating leverage. |
|
Seller’s Market: The number of buyer’s wanting homes exceeds the supply or number of homes on the market. |
Smaller Inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. |
May have to pay more. Make decisions quickly. Conditional offers may be rejected. |
|
Balanced Market: The number of homes on the market is equal to the demand or number of buyers. |
Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable. |
More relaxed atmosphere. Reasonable number of homes to choose from. |