Understand the market and know some strategies to sell your house quickly.
Everyone is talking about having low inventory in today’s real estate market. But even with low inventory, bidding wars and instant sales are no longer the norm. This shift has created an interesting market for sellers, so today, I’m sharing my thoughts on how you should respond to recent shifts when selling your home:
1. Strategic pricing. While some homes, particularly those priced for first-time buyers, are still selling quickly, others have been sitting on the market for weeks. Sellers who overprice or try to test the market find themselves reducing their prices multiple times before receiving offers.
2. Rising interest rates. Compared to two years ago, interest rates have doubled, affecting affordability for buyers.
“Buyers are more cautious in this market. ”
3. Inflation. The current economic climate with rising inflation means buyers have less disposable income and are more cautious with their spending, which includes housing, which is their largest monthly expense.
4. Return of buyer inspections and appraisals. Unlike before, buyers are now more likely to request repairs during inspections, and appraisals may come in lower than the agreed-upon sale price.
Whether you’re considering selling now or waiting, our team can provide you with the information and guidance you need. We offer free consultations to share our market expertise and help you determine the best course of action for your unique situation. Contact us today via phone or email for a free consultation. Our team is here to provide trusted advice.
