MLS Realtor & Discount Real Estate Broker | Sukhraj Manchanda

logo-image
houses-for-sale-south-surrey

Know your Market before you Buy or Sell:

If you are in the market to Buy a home or Sell a home, you would benefit greatly if you knew the current market conditions. Based on supply and demand you could be facing a buyers’ market, a sellers’ market, or a balanced market. Market conditions influence the value of your home irrespective of the condition of the home.

Market Conditions To Consider While Looking For Houses for Sale South Surrey

Buyers’ market:

If you are in the market to Buy a home or Sell a home, you would benefit greatly if you knew the current market conditions. Based on supply and demand you could be facing a buyers’ market, a sellers’ market, or a balanced market. Market conditions influence the value of your home irrespective of the condition of the home.

blog-image-2

Sellers’ market:

This is the hottest type of market where demand exceeds the supply of homes in the market i.e. there is a scarcity of good homes in the market compared to the number of buyers looking to Buy homes. The homes will Sell quickly, and the buyers are aware that they may have to pay over asking prices and compete with multiple offers. Buying a home in this type of market requires Realtor’s expertise and proven strategy to win in these situations. These are the least favourable conditions from a buying perspective.

Along with the list price, the number of days on the market for the property indicates the current state of the market. A balanced market is the best market for Real Estate transactions where there is healthy competition and plenty of options to choose from.

Your local South Surrey Realtor would help you to navigate through the current market conditions for houses for Sale in South Surrey. Knowing the current market conditions would help customers make an informed decision. Realtors have the tools and resources to articulate the strategy based on current market conditions accurately.

blog image

Other factors that influence the market value of the property you should know while looking for houses for sale South Surrey:

    1. Property itself: The size, shape, age, layout, and construction quality of the property along with the landscaping greatly influence the property value.
    2. Condition: The condition of the home structure, roof, furnace, hot water, and appliances along with the floor plan contributes to the price value.
     3. Location: The location of the property and its proximity to the local amenities such as schools, groceries, transit, parks, and recreational services play a vital role in the market value of the property.
     4. Recently sold properties: Irrespective of the condition and location, the recently sold similar properties are the benchmark for the value of the property. These are also influenced by the current market conditions.
While these are some of the guidelines you can use to set prices for your property, however, your MLS Realtor can always lend a helping hand in managing one of the biggest transactions of your life. At SoldBySukhraj, we have a lot of experience, reputation, and credibility in the market.  You should take advantage of our flat fee model which saves thousands of dollars. We are just a phone call away and I can meet at your home and provide customised suggestions based on your unique property. Feel free to book a session with me by calling 604-404-1100 or reaching out via social media.
Know your Market before you Buy or Sell

2 thoughts on “Know your Market before you Buy or Sell

Leave a Reply

Your email address will not be published. Required fields are marked *