During the onset of the Covid-19 pandemic, many real estate agents and experts were calling for a buyer’s market. Recently we’ve been seeing quite the opposite. We are currently experiencing a Seller’s Market here at Nancy Kowalik Real Estate Group. Our Happy Sellers are getting 100% of asking price OR MORE!
Defining A Seller’s Market
A seller’s market is one in which there are more buyers than homes for sale. Since supply is less than demand, homes are higher priced and more attractive to sellers in the market. In contrast, a buyer’s market is one in which there are lots of sellers and relatively few buyers, which leads to lower prices.
A market’s absorption rate is the best way to figure out whether a certain area is behaving as a seller’s market or buyer’s market. The absorption rate is calculated by looking at how many homes sold in a certain month and dividing it by the total number of homes for sale at the end of the month. An absorption rate of 20% or higher is usually deemed a seller’s market, since homes are selling relatively quickly and the supply of homes is low.
In a Seller’s Market, homes sell in less than 4 months. In a Buyer’s Market, homes sell in more than 6 months. A Balanced Market typically sees homes sell in 4 to 5 months.
We’re Seeing A Seller’s Market at NKREG
At Nancy Kowalik Real Estate Group, we are currently seeing a seller’s market in Mullica Hill and surrounding areas. There are more buyers in the area than there homes on the market. Because of our proven marketing system, our listings are experiencing multiple offers, which turn into bidding wars. Many of our sellers are getting 1 – 2 % OVER asking prices! We need more inventory for all the MOTIVATED, QUALIFIED BUYERS we’re working with that are interested in the Mullica Hill Area.
This can be very frustrating for motivated buyers, but for the sellers, it’s extra cash in their pockets! If you’re looking to sell your home, call us for a free, no-obligation home valuation. We’ll tell you how much you should expect when selling your home. Once listed with us, we’ll teach you how to prepare your home for sale, so that your home will make the very best first impression to all of the potential buyers.
No other real estate company in the area has a team of FULL-TIME Agents that are as experienced in the business as ours. Our agents are trained for every aspect of Real Estate and they are ready to assist you in any way possible.
Want to get TOP DOLLAR for your home? Of course you do!
For more information or to speak to someone from our 5 Star Award Winning Team Call 856-478-6562 or fill out this form: