Buyer, Seller, & Dual Markets Explained

A Buyer, Seller, or Dual Market is governed by the foundation of economics: supply and demand.

Buyer’s Market

Supply is higher than demand. There are more homes on the market than there are people looking to buy. In a Buyer’s Market, homes tend to sit longer before they sell because buyers have the luxury of being more picky about what they want and have the options to choose from. Prices also tend to dip lower to be competitive.

Seller’s Market

In a Seller’s Market, there are more buyers than there are homes available for sale. Homes sell quickly and often times receive multiple offers. Prices tend to increase because homeowners understand they have a precious commodity. Demand is high and supply is low.

Dual Market

As the name suggests, a Dual Market consists of two markets in one area. What this means is certain homes are selling quickly and others are sitting longer. For example, homes under $600,000 are selling quickly because demand is high but homes at a higher price point are sitting longer because demand is lower. In this situation, if you want to sell your $550,000 home and upgrade to a million dollar home you’re receiving max benefits on the sell and buy.

Being aware of what market you are buying and selling in is critical in making sure you maximize your dollar. Each neighborhood in San Diego is unique. If you are planning to buy or sell, contact me for a free strategy session to go over what you can expect moving forward!