Which market condition indicates that there are more buyers than available properties?

A market condition where there are more buyers than available properties is described as a seller's market. In this scenario, the demand exceeds supply, leading to increased competition among buyers. This often results in multiple offers on properties and can drive up prices, as buyers are willing to pay more to secure a home amidst limited options.

In contrast, a buyer's market occurs when there are more properties available than buyers, giving buyers the advantage to negotiate better deals. A balanced market features an equilibrium where the number of buyers and properties is roughly equal, meaning prices stabilize. A stabilized market typically refers to a steady state where prices and demand do not fluctuate significantly, but it does not specifically denote the imbalance of more buyers than properties available.