October 2022

No matter what you’ve heard, the truth is, you don’t really need professional help to get your home ready to sell. You just need the right guidance and some time.

You already know the real estate market has shifted in the past six months. In our area, the median price for a sold home peaked in April at $625,000 and was down to $585,000 last month.

We work with buyers and sellers and see trends in how each group looks at the market, so we want to share what we know.

Nationally, inventory – the number of homes for sale – has been falling for a long time and was at historic lows during 2020 and then fell even further in 2021. Inventory was meager, but demand increased. The increase was due to various factors, including record-low interest rates, a desire for more space, and a frenzy that made some buyers feel like they may be shut out of the market forever if they didn’t purchase a home.

When you sell your home, it’s vital that you understand the market and how pricing your property works. In fact, nothing has more of an impact on how fast your house will sell – and the quality of the offers you receive – than its price.