Humber/Ontario Real Estate Course 2 Exam Practice

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What characteristics are generally observed in a strong seller's market?

  1. High number of properties available

  2. Bidding wars and properties selling above asking price

  3. Stable market prices

  4. More buyers than available properties

  5. Few buyers interested in properties

  6. Properties selling below asking price

The correct answer is: Bidding wars and properties selling above asking price

A strong seller's market is typically characterized by a high level of demand for properties, resulting in bidding wars and properties selling for prices higher than the original asking price. This competition among buyers is what drives up prices and makes it a favorable market for sellers. The other options are incorrect because a high number of properties available (A) would indicate a weaker market, while a stable market prices (C) would not show the same level of demand and competition. A market with more buyers than available properties (D) is also indicative of a strong seller's market, while few buyers interested in properties (E) and properties selling below asking price (F) would suggest a weaker market with less competition.

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