Seller's market is a term used to describe market conditions when housing demand exceeds supply. In this scenario, the seller is at an advantage and stands to maximize the sale price of their home.

in a seller's market, there are more buyers looking for homes than there are homes available. Since there are fewer homes to choose from, multiple buyers will often be interested in purchasing the same properties

• A buyer's market is characterized by slow home sales, lots of available properties and declining home prices.
• A seller's market is characterized by rapid home sales, shortages of available homes and rising real estate prices.