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Hot, Normal, and Cold Markets

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

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© 2017 St. Augustine and St. Johns County MLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes from St. Augustine and St. Johns County MLS and the Broker Reciprocity Program.sm. Real estate listings held by brokerage firms other than RE/MAX 100 Reallty are marked with the BR logo and detailed information about them includes the name of the listing brokers. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2017-06-23.

Copyright 2017 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than RE/MAX 100 Reallty are marked with the listing brokers name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed. RE/MAX 100 Reallty does not display the entire Northeast Florida Multiple Listing Service, Inc. data exchange program database on this web site. The listings of some real estate brokerage firms have been excluded. Last updated on 2017-06-26.

Any use of search facilities of data on the site, other than by a consumer looking to buy, sell or lease real estate is prohibited. Based on information from Northeast Florida Multiple Listing Service, Inc that was updated on 2017-06-26. The Corporation does not guarantee and is not in any way responsible for, its accuracy. Data maintained by Northeast Florida Multiple Listing Service, Inc. does not reflect all real estate activity in the market.

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