Know Your Market When Buying or Selling a cottage or home in Muskoka.
(Supply Greater Than Demand)
When the number of properties for sale is greater than the number of buyers looking. We are in a Buyers Market. This market traditionally sees prices tend to drop and properties staying on the market longer. This could mean better negotiating power when buying a property.
(Demand Greater Than Supply)
When the number of buyers looking for property is greater than the number of properties for sale. We are in a Sellers Market. This market traditionally sees prices increasing and properties selling quicker. As a seller you could get a higher dollar for you property. Multiple offers could also be possible, if the property is well priced and in demand.
(Supply Equals Demand)
When the number of properties on the market is equal to the number of Buyers looking to purchase a property we are in a Balanced Market. In this market prices are traditionally stable and sell in a reasonable amount of time if the property is well priced.