Buyers are Gaining a Small Advantage, Pricing is Key

We're seeing a significant consistent increase in active inventory and new inventory when comparing year over year. Interestingly, the 4 markets we cover are completely different markets and average price points, but the trends are the same. There are listings on the market that just aren’t selling.

We're starting to see some minor changes in the market.

  • Typically trends start on the East and West Coasts and then we start to notice them in the Midwest a few months later. The market is shifting towards buyers on the coasts.

  • Buyers are gaining a little advantage. Not every home entering the market is going to sell over asking or with multiple offers…or even sell at all.

What does this mean for sellers?

  • Homes prepared for sale and priced right are selling. But be cautious: this is not the time to overprice your home.

  • If you were to underprice your home a little, the market would recognize this and you may end up selling with multiple offers over asking.

  • Those that are overpricing their homes are having to make 1, 2, or sometimes 3 price adjustments.

What else are we seeing?

  • We have noticed an uptick in number of mutual releases in under contract homes. This stresses even more the importance of preparing your home for sale.

  • This is the time to pay attention to the real estate market and listen to your real estate professional.

If you have any questions about buying, selling, or investing, don’t hesitate to reach out.

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