Selling Your Home in a Seller’s Market

A seller’s market is a housing market where the seller has the advantage.

If you’re thinking of selling your home, you’re in a great position. There’s no denying it; it’s a seller’s market right now, and in most areas, the housing market is just getting hotter by the day.

As many people move from more urban areas to the suburbs, single-family home prices have skyrocketed. Even multigenerational and condo-style homes are in high demand in many areas. These motivated buyers are further incentivized to buy because of the historically low interest rates currently seen throughout the country. Low interest rates plus low inventory have created the perfect “seller’s market,” and buyers should be ready to take advantage.

First off, some may be asking themselves: “What is a seller’s market?” Simply put, a seller’s market is a housing market where the seller has the advantage, i.e. there is less inventory than demand. It’s when there are more people looking to buy a home than to sell, creating an increase in demand and a shortage of supply. Not a good position for a buyer to be in, but for the seller, it’s a great time to sell a home. The seller has the advantage in this case, and while it may be a no-brainer selling a home in a seller’s market, it’s still helpful to know how to get the best price possible and the best terms for your particular situation.

What to Expect

A back view of a retired couple standing outside their new modern home
Eager buyers are more willing to negotiate when competition is high.

When selling your home in a seller’s market, you can expect a number of things to go differently than if you were to sell in a buyer’s market. It’s safe to assume that you will likely sell your home faster than what’s typical in a neutral or buyer’s market as buyers are eager to snatch a home up quickly or get their offer in first. Depending on your market, your home may sell the very same day you list it.

It’s also safe to assume you will receive multiple offers, and in this case, you have greater bargaining power. For instance, you may like an offer because it has no contingencies, but it may be at a lower offering price than other offers. In this case, because you have higher offers, you may be able to negotiate the perfect offer—no contingencies and the highest price. Eager buyers are more willing to negotiate when competition is high.

Use an Agent

A real estate agent giving house keys to a new homeowner
It’s still important to take advantage of a realtor’s knowledge and expertise to get the best offer possible.

In a seller’s market, there may be some home sellers who are tempted to forgo using a real estate agent to avoid paying a commission, but this is generally a bad idea. While it’s true that selling a home in such a hot market isn’t brain surgery, it’s still important to take advantage of a realtor’s knowledge and expertise to get the best offer possible.

Selling a home isn’t always only about getting the highest price. You also want to accept an offer that has the best possible terms to fit your specific needs. Maybe you’re in a hurry to move out. In that case, you’ll want to consider an offer with fewer contingencies or one with a high earnest deposit, so the potential buyer is less likely to retract the offer and put you behind schedule. 

A seller needs to consider what is best for their particular situation, whether it’s an all-cash offer, an offer with no home inspection required, or simply the highest price. You may also consider seller financing if you’d like a steady stream of monthly payments, along with interest, from your buyer. Seller financing is simply when the seller finances the purchase, instead of a bank or other conventional lender. A down payment is typically still required, but the seller and buyer come to an agreement on the amount of interest and mortgage payments due each month.

Getting the Best Offer

A "For Sale" sign in front of a luxurious house with a landscaped yard
Be sure to hire a professional photographer and take great pictures that showcase your home in its best light.

There are several strategies and tips to consider when selling your home in a seller’s market:

  • Have excellent listing photos – Be sure to hire a professional photographer and take great pictures that showcase your home in its best light. Many people are not currently attending open houses or may not have time to visit your home in person, so great photos will go a long way in making a potential buyer feel confident in their decision to make an offer on your home. Setting up a “virtual tour” is an even better strategy. By attending a virtual tour, home buyers will feel as if they have seen the home in-person and will feel that much stronger about their offer.
  • Consider listing your home under market value – This strategy increases interest in your home and will likely drive up the price when you inevitably receive multiple offers because of the increase in demand.
  • Try to list your home on a Friday – This is considered to be the best day to sell your home. Homebuyers typically begin their weekend home search on Friday mornings, so be sure your listing is “live” by then.
  • Consider what’s important to you in an offer – Many buyers simply want the most money possible. In this case, have your agent negotiate with buyers to submit their best and highest offer. Or perhaps your house is in need of repairs. For this situation, you may want to consider an offer that doesn’t require a home inspection.
  • If a quick sale is the most important factor to you – You’ll want to consider an all-cash offer so that the buyer doesn’t need to get pre-approved or deal with the setbacks of bank financing, which can slow down the sale of a home. You may also want the buyer to pay for all closing fees, which puts more cash into your pocket.
  • Ask for personal letters – If the highest and best price isn’t the most important factor to you and you want to be sure the next buyer of your home loves the home as much as you did, you can ask for personal letters from homebuyers, which will give you a better insight into who is purchasing your beloved home.

If you’re thinking about selling your home, we can connect with a local real estate expert in your area. Learn more information about our home selling process.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and
Details here.

We're here to help! (800) 928-2055

Call us to speak with a customer service representative.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting Message/data rates may apply. I also agree to’s Privacy Policy and Terms of Use.

The Best Places to Snowbird in 2021

We’ve gathered 25 of the best places for snowbirds, including cities in Florida, Arizona, California, Texas, South Carolina, and Nevada. For each entry, we’ve also provided a list of recommended 55+ communities in the area. If you’re ready to find your own winter retreat this season, here are some of the best places to consider.

A boat pier at sunrise in Lake Placid, Florida.

Lake Placid Living: A Look at 55+ Communities in This Central Florida Gem

8 minute read Located in the heart of Central Florida, Lake Placid offers the best qualities of small-town America. Surrounded by scenic lakes, nature preserves, and cultural attractions, the “Town of Murals” is perfect for active adults. With two 55+ communities in Lake Placid—Covered Bridge and Tomoka Heights—the area’s affordability makes it an appealing option

Relaxed 55+ adults camping with friends and drinking a cup of coffee while enjoying retirement.

How to Choose the Right Retirement Community for You

Choosing the right retirement community is an important decision. There are questions you should ask yourself when considering an active adult community. These are some of the most important questions to ask yourself when choosing the retirement community for you, as well as some active adult communities to consider.

Mature couple plays tennis, enjoying an active adult lifestyle.

How Can I Be Sure the Active Adult Lifestyle Is Right for Me?

As you approach retirement, it’s natural for your lifestyle needs to change. That lively neighborhood with young families may have been perfect in the past. However, now you might prefer something different. What does an active adult lifestyle involve?

Award badge over an outdoor, resort-style pool at On Top of the World in Ocala, Florida.

The Best Large 55+ Communities

Join us on a journey to uncover the gems among the largest 55+ communities. These fifteen attractive neighborhoods all offer 1,000 homes or more.

About 55places

We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

Scroll to Top