5 Expectations Home Buyers and Home Sellers Should Have in a Market with Low Inventory

Tanya LaRose 0 comments 01.05.2023

Saskatoon has been experiencing a lack of inventory since the pandemic. While these market conditions vary from residential, acreage, farm, land, and commercial properties, they vary even further within residential. Successful navigation of such market conditions also requires different considerations between condos, townhouses, and houses, reflecting even further variations within those different price ranges. Additional factors that impact these expected conditions include the selling and buying strategy utilized by each respective party. Therefore, the following are general indicators for the public in most cases. 

 

Home Sellers 

• You may not have to get into extensive negotiations. 
• You may have to make little to no concessions. 
• It may sell within the first day or so of listing. 
• You may get multiple offers. 
• It may sell for over asking price. 

Home Buyers  

• You will be competing with other buyers for many of the same homes. 
• It may take weeks or months before you get an accepted offer on a home you like. 
• You may lose out on submitted offers to other buyers. 
• You likely will not get much of a reduction on price.  
• You may have to be flexible with possession, conditions, and other terms. 

For further clarity into what you can expect with your unique situation, please reach out, via text or phone to Tanya LaRose at 306-380-7325(REAL), detailing your overall objective.