The market of the last 24-30 months is not the market of today. The days of listing your home and sifting through multiple offers is most definitely in the rear view mirror. And that is a good thing. No market can sustain that level of velocity.

Two weeks worth of inventory has improved to 2 months worth of inventory. This is partly due to mortgage rates increasing to a level that will appear to be elevated based on recency bias. Historically, these are still fantastic rates. That being said, this is still a solid seller’s market. But, buyers are not needing to waive appraisals and inspections to stand out. As a matter of fact, they are back in control to a certain degree as asking sellers to pay for title policy and repairs is becoming more commonplace. However, it will still take a very solid offer to acquire the most attractive and in demand homes in your market area.

The previous X-Factor of “buyer fatigue” is not nearly as prevalent as it has been in recent history. Price improvements are becoming commonplace as sellers grapple with finding the market. The truth is, in this type of market, you are better off pricing your home at an attractive price rather than an aspirational price. The latter will force you to chase the market and the home could languish unsold for weeks on end. This doesn’t mean you should price it to “give it away.” A professional Realtor will be able to offer some guidance and recommendations here.

“Did I miss the market?” In a word, no. All that you missed was the frenzy. If you are wanting to sell your home in this market, a properly merchandised and marketed property is going to stand out from the pack and deliver a very solid sales price.

Thinking of buying or selling? Let’s connect and discuss how my 23 years of real estate sales and marketing experience might benefit you and your goals.