Real estate market trends are changing–and so should your strategy
Buyer activity in the real estate market is picking up this spring, but not in the way you think. There’s still a lingering mindset among sellers that sales will be quick after years of low inventory, low interest rates, and high buyer demand, but that isn’t the case. The market has changed, and if you want to sell your home quicker, you have to know the current market trends and learn to keep up with them. Here are three ways:
1. Be patient. Don’t expect rapid sales. Unlike three years ago, buyers are no longer lining up outside your homes to buy a property. In reality, the houses listed in the market are below five months supply, which means that if no new homes are listed for sale, the existing listing will take five months to sell. This makes it, essentially, a seller’s market.
2. Price your home accurately. Because of the change in buyer activity, it is important to price your home accurately. In the current market, the changes in interest rates and pricing have led the market to become more balanced and normal. While there have been no drastic changes, whether an increase or decrease in prices, it is important for sellers to price their homes in line with the current market rate.
“Buyers are not lined up outside your homes, unlike three years ago. It’s returning to a normal market condition. ”
3. Listen to feedback. Given the unpredictable changes in real estate market trends, getting it right all the time is harder than you think. This is where feedback becomes valuable. As sellers, listening to both positive and negative feedback is highly beneficial. A keen eye and open ear can help you gain insights that will help you sell your home quicker.
Sometimes, getting a feel of the market trends is easier with the help of a professional real estate agent like myself. With my expertise, I can help you learn more about market trends and real estate developments to help you sell your home and maximize your profit at the same time. If you’re planning to sell your home, I’ll be more than happy to help you. Call or email me so we can set a time to talk!
