If you think that the West Coast is really "the best coast," it could be because you're currently in the market to sell your home.
The economists at Zillow ranked America's 35 largest metro areas to determine whether buyers or sellers have more negotiating power in a given market. How? They compared actual prices to asking prices and the number of days listings spent on Zillow, among other factors, Skylar Olsen told HuffPost Home. So what does this mean for East Coasters? You're better off buying. But there's certainly more to take away from these lists than regional pride.
Buyers in buyers' markets will "likely have more time to make their decisions and can be bolder at the bargaining table by submitting bids further below list price. They are also less likely to be faced with fierce bidding wars," Olsen noted. "In sellers’ markets, homes sell quickly so sellers can often be more aggressive by demanding the list price without having to make concessions. Bidding wars are more common in these markets which can often result in higher final sale prices, another advantage for sellers," she added.
But just because your city is in a seller's market doesn't mean that's always the case. "The San Francisco metro is a seller’s market compared to many metros out east, but there are pockets within San Francisco where homes are moving more slowly than in other areas within San Francisco," Olsen said.
So take it all with a grain of salt as you get your moving boxes or for-sale signs ready.
The top buyers' markets are...
The top sellers' markets are...
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