The busy real estate season is in full swing, and Greater Philadelphia homeowners are enjoying a hot seller’s market!
A “seller’s market” refers to the upper hand that sellers experience when the demand for homes outpaces the supply. This imbalance results in homes selling quickly, and for more money. In fact, many EveryHome listings have recently resulted in bidding wars and ultimately sold for above the asking price! Sellers have the strongest advantage in moderately-priced suburban neighborhoods in strong school districts.
While sellers have been enjoying quick sales, the high demand for homes has been a struggle for many local home buyers. Because many well-priced homes are selling in less than three days, some buyers have been squeezed out of the market and affected by stressful bidding wars. If you’re looking to purchase a home this spring, be sure to consult your EveryHome agent for expert assistance with navigating your local real estate market.