As a licensed real estate agent, Louise Suchanek truly cares about each and every client she has the privilege of serving. She understands how exciting it is for buyers to search for their perfect home, on a perfect street, but she also understands how important it is for sellers to get the best price possible.
Oftentimes, knowing whether or not it’s a seller’s market or a buyer’s market in Los Angeles and San Bernardino counties makes all the difference in your overall experience. Because buying and selling homes also comes with stress, Louise Suchanek works to make the entire process easy, enjoyable, and successful by keeping her clients informed every step of the way.
By definition, a seller’s market exists when there are fewer homes available for purchase than there are people ready to buy. Low supply and high demand mean a seller will likely get the top price for the sale of their home.
Sometimes a seller’s market will occur in an area where there are good schools, nice amenities, and nice public spaces. These areas are often more desirable to buyers, which means sellers have more control over setting their home prices at a desirable rate.
A seller’s market can also occur when the economy is good, and more people are in the market for a new home. Because buyers have little room to negotiate the price, homes in desirable areas throughout Los Angeles and San Bernardino counties may receive multiple offers, which could kick off a bidding war and result in sellers receiving more than their asking price.
In contrast to a seller’s market, a buyer’s market exists when there are more homes available for purchase than there are people ready to buy. High supply and low demand give a buyer the ability to negotiate a lower price for a home.
While good schools and neighborhoods often are indicative of a seller’s market, sometimes the season or the economy changes, and the market responds. A one-time seller’s market may suddenly turn into a buyer’s market, causing homes to sit on the market longer.
During a buyer’s market in Los Angeles and San Bernardino counties, the average price of homes will decrease, and buyers will be more likely to receive subsidies during negotiations. Additionally, sellers may be forced to accept a contract with contingencies.
Because the real estate market fluctuates throughout the year, your location and school district may not be the only variables that determine the state of your market. Meaning, the summer months could be a buyer’s market because more families move during the summer, but the winter months could be a seller’s market simply because there is less inventory.
As a real estate agent, Louise Suchanek considers the absorption rate when determining whether it’s a seller’s market or a buyer’s market. The absorption rate is calculated by dividing the number of homes sold in the current month by the number of homes for sale at the end of the month. Generally speaking, when the absorption rate is at 20% or higher, the market is considered a seller’s market.
Louise Suchanek has been a California resident for most of her life and has an incredible understanding of the Los Angeles and San Bernardino areas. She will work with you throughout your entire home buying or selling process and take the time necessary to assist you in any way she can.
Call her today at (626) 730-1152 to set up your first appointment.