More selection. With more and more houses in inventory, there is greater selection. Today's buyers can be very selective, taking the time to be sure they find a home with all the amenities they want.
Greater negotiation power. Because inventory is so high, sellers are more likely to negotiate. Today's buyers often walk away with a lower purchase price, paid closing costs, and additional incentives.
Less competition. A few short years ago, buyers often found themselves outbid by another buyer or found themselves in the middle of a bidding war. Today, bidding wars are rare and buyers can take their time to fully assess whether or not a house is right without having to hurry to make an offer.
More comparables. Higher inventories means there are more and more comparables on the market. If some of those comps are at lower prices, buyers can often use this to help them make and win a lower offer.
Nearly perfect homes. Today's sellers of older homes are more willing to complete any repairs a buyer may request.
These are just a few of the reasons why buyers may have the upper-hand in today's market. Give me a call or drop me an email if you'd like more information on the market in Ravalli County.