When it comes to real estate transactions and investments, timing is as imperative as having the skills and knowledge to go about the deal. Whether you’re a seller or a potential buyer, you can’t make a final decision without considering the state of the real estate market, because the status of the market can greatly affect your returns. Before shopping for East Van houses for sale or having your condo placed in the Multiple Listing Service (MLS), the following are some factors you have to consider so as to gauge the competitiveness of the real estate market and determine if you’re in a seller’s or buyer’s market.
Number of Homes for Sale
As a buyer, you have a great negotiating edge when there are a lot of houses to choose from. A high number of homes for sale is usually indicative of a buyer’s market where one can find great real estate deals and motivated sellers who are very likely willing to work with the buyer’s terms.