Whether you're thinking about buying your first home or selling your third, understanding the current state of the real estate market is key to making smart, strategic moves. But the question is: are we in a buyer's market or a seller's market?
Let’s break it down.
What Is a Seller’s Market? A seller's market happens when there are more buyers than homes available. Inventory is low, demand is high, and sellers are in the driver’s seat.
Key signs of a seller’s market:
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Homes sell quickly, often within days.
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Multiple offers are common.
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Homes frequently sell at or above asking price.
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Low inventory—not many homes for sale.
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Price appreciation trends upward.
Perks of a seller’s market (for sellers):
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You can often get top dollar for your home.
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You have more leverage to negotiate favorable terms.
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Less pressure to make costly improvements—homes are in demand.
Challenges (for buyers):
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Higher competition means bidding wars.
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You might need to act fast or waive contingencies.
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It can be emotionally tough to get outbid multiple times.
What Is a Buyer’s Market? A buyer's market happens when there are more homes available than buyers in the market. There’s more supply than demand, which puts buyers in a better negotiating position.
Key signs of a buyer’s market:
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Homes sit on the market longer.
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Price reductions are common.
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More choices and less competition.
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Inventory is high.
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Sellers may offer incentives like closing cost assistance.
Perks of a buyer’s market (for buyers):
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More room to negotiate on price and terms.
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Less pressure to rush your decision.
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You might score a better deal or concessions from the seller.
Challenges (for sellers):
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It may take longer to sell your home.
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You might need to invest in updates or price competitively to attract buyers.
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Lower sale prices than during a hot market.
How to Know What Kind of Market You're In As a real estate professional, I’m constantly watching for these trends in Utah. Here are a few tools I use:
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Days on Market (DOM): When homes are selling in under 10 days, that’s a seller’s market. When homes are taking 30+ days, it’s likely a buyer’s market.
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Months of Inventory: Less than 3 months of inventory = seller’s market. More than 6 months = buyer’s market.
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List-to-Sale Price Ratios: Over 100% = seller’s market. Under 97% = buyer’s market.
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Price Appreciation Trends: Rising prices mean strong demand. Dropping or stagnant prices often signal more negotiating room.
Why This Matters for You Understanding where we are in the market can help you:
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Time your purchase or sale more strategically
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Set better expectations for negotiations
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Avoid costly mistakes from poor timing or misreading the market
The Bottom Line Market conditions change—sometimes quickly. Whether you're buying, selling, or investing, understanding the signs of a buyer's or seller's market will help you make confident decisions and avoid surprises.
Thinking about making a move? Let’s connect and talk about what the current Utah market looks like and how to win no matter what side of the table you’re on.
