With housing inventory rising in many Canadian cities, the market is shifting in favor of buyers. A buyer’s market happens when there are more homes for sale than there are active buyers, giving you more leverage at the negotiation table. If you’re planning to buy a home in 2025, learning how to negotiate in a buyer’s market can save you thousands of dollars and help you secure better terms.

What Is a Buyer’s Market?

A buyer’s market occurs when supply outweighs demand. This often happens when:

  • Interest rates rise, reducing affordability for many buyers.
  • Economic conditions slow down.
  • More homeowners list their properties than buyers are ready to purchase.

In these conditions, sellers are competing for fewer buyers, which opens the door for negotiation.

Step 1: Get Pre-Approved Before You Start

Before making offers, get pre-approved for a mortgage. Pre-approval shows sellers you’re serious and financially ready. It also gives you a clear budget so you don’t waste time looking at homes outside your price range. With Homewise, you can get pre-approved online in minutes and compare 30+ lenders at once, giving you a strong position before you even make an offer.

Step 2: Target Homes That Have Been on the Market Longer

Properties that sit on the market for 30 days or more often present the best opportunities. Sellers may be more open to lowering their asking price, covering closing costs, or offering flexible terms. Look for homes that have had recent price reductions or multiple listing updates — these are signs the seller is motivated.

Step 3: Make a Thoughtful, Data-Backed Offer

In hot markets, buyers often need to bid over asking. In a buyer’s market, you have the chance to take a more conservative approach. That doesn’t mean lowballing. Instead:

  • Review recent comparable sales in the neighborhood.
  • Factor in how long the property has been listed.
  • Justify your offer with clear reasoning.

When sellers see that your offer is fair and supported by market data, they are more likely to accept or counter.

Step 4: Negotiate More Than Just the Price

In a buyer’s market, you can often ask for additional concessions that add real value, such as:

  • A longer or shorter closing date to suit your needs.
  • Inclusion of appliances, furniture, or fixtures.
  • Repairs or credits for updates the home requires.
  • Seller covering part of the closing costs.

These extras can save you money without necessarily lowering the seller’s net price, making them more willing to agree.

Step 5: Work With the Right Professionals

Having a skilled real estate agent and mortgage advisor on your side makes negotiation easier. They’ll know when to push, when to hold firm, and how to structure your offer so it stands out while still protecting your interests. At Homewise, we connect buyers with trusted real estate partners across Canada to help ensure you get the best deal possible.

Step 6: Stay Calm and Patient

One of the biggest advantages of a buyer’s market is time. You don’t need to rush or feel pressured to make a quick decision. View multiple homes, compare your options, and use the slower pace to your advantage.

Final Thoughts

A buyer’s market gives you rare leverage in real estate. By preparing with a pre-approval, targeting motivated sellers, making thoughtful offers, and negotiating terms beyond just price, you can save money and secure a home that truly fits your needs. The key is patience and preparation — take your time and use the market conditions to your benefit.

FAQs

1. What’s the biggest advantage of a buyer’s market?
More choice and more negotiating power. Buyers can often secure lower prices and better terms.

2. How much below asking price can I offer in a buyer’s market?
It depends on the property, but offers 2%–10% below asking are more common in buyer’s markets, especially for homes that have been sitting.

3. Do I still need to move quickly in a buyer’s market?
Not as quickly as in a hot market. However, desirable homes that are well-priced can still move fast, so it’s best to be ready with pre-approval.

4. What else can I negotiate besides the price?
Closing timelines, included appliances, furniture, repairs, and even credits toward closing costs.