When you hear that it’s a “seller’s market,” it means that there is more demand for homes than there are homes available. Buyers often compete for homes in a seller’s market, driving up the cost of the properties and often resulting in bidding wars. It is not unusual for a home to sell for more than the asking price in a seller’s market. Sellers have a definite advantage, as buyers are paying more and overlooking property flaws just to be able to purchase a home.