When buying or selling property, understanding whether you’re in a buyer’s or seller’s market is crucial. The Southern Highlands real estate market, like many others, fluctuates between these two conditions based on factors such as supply and demand, interest rates, and economic conditions. Here’s a breakdown of what each market means and how you can make the most of it.
A buyer’s market occurs when there are more properties for sale than there are buyers. This surplus gives buyers the upper hand in negotiations, as sellers may need to lower prices or offer incentives to secure a sale.
High inventory levels (more homes for sale than usual)
Properties staying on the market longer
Lower or stabilising property prices
More room for price negotiations and concessions
Take your time to compare options and negotiate for the best deal.
Request additional incentives such as extended settlement periods or minor repairs.
Ensure your finances are in order to act quickly when you find the right property.
Price your home competitively to attract buyers.
Enhance your property’s appeal with minor upgrades or staging.
Be open to negotiations and flexible with terms.
A seller’s market occurs when demand outweighs supply, meaning more buyers are looking for homes than there are available properties. This leads to higher prices and often results in multiple offers on properties.
Low inventory (fewer homes for sale)
Homes selling quickly, sometimes above the asking price
Competitive bidding situations
Rising property values
Get pre-approved for a mortgage to strengthen your offer.
Be prepared to make quick decisions and submit competitive offers.
Limit contingencies in your offer to make it more attractive to sellers.
Price your home strategically to attract multiple buyers.
Highlight key selling points and invest in professional marketing.
Consider multiple offers carefully to choose the best overall terms, not just the highest price.
The Southern Highlands property market has seen significant demand, particularly from those seeking a tree-change lifestyle. Whether it’s a buyer’s or seller’s market at any given time depends on economic trends, interest rates, and buyer demand.
For personalised insights on how to navigate the current market, whether you’re buying or selling, reach out to the team at First National Real Estate Moss Vale. Our experts are here to help you make informed decisions and achieve the best possible outcome in your real estate journey.
Contact us today!
Legal Disclaimer:
The information provided in this blog is for general informational purposes only. It is not intended to constitute legal, financial, or professional advice. Readers are advised to seek independent advice from qualified professionals regarding their individual circumstances. First National Real Estate Moss Vale does not accept any responsibility for any loss which may arise from reliance on information contained in this blog post.