Is It a Buyer’s Market or Seller’s Market? Why It Matters When You’re Planning Your Next Move

For a long time, the housing market felt like an endless summer for sellers. Homes were flying off the market, buyers were offering well over asking, and competition was fierce. But lately, the winds have started to shift.

Some neighborhoods are still hot—especially here on Long Island—but others are starting to cool. Inventory is creeping up, days on market are lengthening, and buyers are gaining back a little leverage. In short, we’re seeing a tale of two markets emerge.

And if you’re planning a move—whether that’s upsizing from your starter home or relocating out of New York—you need to know which market you’re actually in. Because that knowledge? It can make or break your game plan.

Buyer’s Market vs. Seller’s Market: What's the Difference?

In a buyer’s market, there are more homes for sale than there are buyers actively shopping. That gives buyers more negotiating power. Homes tend to sit longer, prices may be a bit softer, and sellers often have to offer incentives—like covering closing costs or making repairs—to get deals done.

In a seller’s market, it’s the opposite. Inventory is low, demand is high, and homes move quickly. Multiple offers and bidding wars are common. Sellers can be a bit choosier, and pricing tends to be aggressive.

Over the past few years, we were solidly in a seller’s market—especially on Long Island. But now? The playing field is leveling out.

The Market Is Balancing—But Location Matters

National data from Zillow shows that we’ve moved out of the extreme seller’s market territory we saw between 2020 and 2022. Today, many areas are leaning toward a more neutral market, where neither side has a huge advantage.

This is important if you’re both selling and buying.

If you’re selling a home in Nassau or Suffolk County and relocating to the Carolinas, Georgia, or Florida, for example, you may experience a seller’s market on Long Island—but enter a more buyer-friendly market down south. That shift can actually help you stretch your proceeds further.

If you’re upsizing locally—maybe your starter home no longer fits your family or lifestyle—you may sell quickly at a strong price, but then find a bit more room to negotiate on your next purchase.

Why the Shift? It All Comes Down to Inventory

We’re seeing this balancing act happen because inventory is slowly rising in many parts of the country—though not evenly. According to Realtor.com:

• The South and West are seeing big jumps in available homes. Some areas are back to pre-2020 inventory levels.

• The Northeast, including Long Island, still has very low supply compared to before the pandemic. This is keeping our market relatively competitive—especially for move-in ready homes priced right.

This regional split is a huge reason why it’s so important to understand the specific market conditions in both the area you’re selling and where you’re buying.

So What Does This Mean for You?

Whether you're ready to trade up for more space or packing up for a fresh start out of state, you don’t want to rely on national headlines. They’re helpful—but often miss the nuances that affect your move.

That’s where a local expert (hi, that's me!) can guide you through both ends of the transaction. I’ll help you understand how much leverage you have in your current market, what to expect where you're headed, and how to line up the timing and financing to make it all work smoothly.

I’ve helped dozens of families just like yours make the leap—from Levittown to Lakeland, from Commack to Charlotte—and I know the common pitfalls to avoid.

Bottom Line

The market is changing. But with the right strategy, timing, and expert support, you can still win—whether you’re selling, buying, or both.

Thinking of relocating or moving up? Let’s talk. I’ll help you read the market, make smart decisions, and create a step-by-step plan that fits your goals (and your life).

Give us a Call at (516) 528-4824 today to get that plan in place!