With the pandemic having calmed some, the world of real estate has followed suit. It is currently being referred to as an “Unsettled Market”. No more houses selling in less than an hour of going on the MLS system, the bidding wars have diminished and almost dropped off the radar completely and conditions are now back in offers and extending for longer periods.
Giving the time of year when home sales naturally slow down, the current interest rates we are experiencing and the fact that everything has gone up in price, it makes sense that we are in this market. HOWEVER, homes are still selling every day. Regardless of market situations, people still need to live their lives.
You need to put your home up for sale in this market. Your work has changed; you want to move to a bigger home as your family dynamic has changed, you need to downsize. Whatever the case may be, it is now about perspective. You need a strategy in place to get the most amount of money for your house. This is where the knowledge of a professional real estate agent comes in. They can help you create a tactical game plan with their experience and knowledge. They know the market, the area, the dynamics and what exactly you should do to have a sold sign put on your lawn and most importantly, pricing it at the right price point to move it in this particular market. Keep in mind; Real Estate Agents also have a very large network of colleagues to work with that have hungry buyers.
There is no doubt in this particular market, you will need to be patient, put the extra effort in to cleaning, painting, repairing minor issues and preparing your home to sell. In an unsettled market, you need to be the best one out there. Pricing is everything. Take in to consideration, where you live. Is it family friendly? Are you living in a city that is consistently growing despite the economy? There are many Gen Z and Millennials waiting patiently in the wings to purchase their first home and get out of mom and dad’s basement.
While the rest of 2023 is expected to soften and be flat. The spring of 2024 is projected to be a busy time for home sales once again. Remember, regardless of market status, homes still sell every day.
