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.

Cathy Brent
The Cathy Brent Team is passionate about Real Estate and the people and communities they serve. Cathy and team pride themselves on their reputation for outstanding customer service and are grateful for the repeat and referral business they attribute to their many satisfied customers. With over 30+ years in the industry, Cathy is a Top Producer year after year, proving that she knows best how to sell your home for the highest price possible in the shortest amount of time. Just this past 2019, The Cathy Brent Team was awarded the Diamond Chairman’s award – Berkshire Hathaway Home Services Drysdale’s #1 Top Producing Team and sold over $48,000,000. You and your home come first when you work with the best.
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