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What is the meaning of a Sellers’ Market?

submitted by Joe Cairo, REMAX Centre Realty

As you may or may not already know, it is a sellers’ market in the world of real estate. But what does that mean exactly?

The short answer is that there are more buyers than there are sellers in each marketplace. As of the writing of this article, there are a total of 49 homes for sale in Northampton Township. 

Out of these forty-nine homes, 41 of them are single-family homes and eight of them are townhomes or condos. Comparing to last year the same time, 23 total homes were on the market! Fifteen were single homes and eight were townhomes! So, double increase in inventory!

Still low to say the least, but this could be a sign of a “changing market! Mortgage rates almost DOUBLED in the last four months, so this COULD be a culprit in an increase in inventory!

At any rate, it is a sellers’ market and still a great time to sell! You will get top dollar for your home and chances are, you will receive multiple offers.

Not as many offers as to a year ago, but multiple to say the least! With this type of environment not only will you get the most for your house, but you will also get a buyer with the best possible terms.

Please feel free to contact me at any time at 215-630-9363 if you are looking to sell your home! 

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