What Sellers Need To Know In Today’s Market
While it’s still a seller’s market, the peak frenzy that the market saw over the past two years has cooled some. However, you haven’t missed your opportunity to sell your house and make a move – motivated buyers are still out there but you need to price your house right for today’s market.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”
Buyer demand has slowed down over the past few months as higher mortgage rates have made it more expensive to buy a home. This resulted in fewer bidding wars and less competition among buyers.
While the pace is slower than even a month ago, serious buyers are still active in the market and they’re buying homes that are priced right. In the month of July 2022 Clinton, Essex, Franklin, Hamilton, and Warren counties saw a 15% decrease in Days on the Market compared to the same month last year (July 2021).
If you do want to sell your house, work with an experienced agent to ensure you are pricing it right for today’s housing market. As the buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. But it is still a sellers’ market.
Our team at The Reynolds Group has a proven track record of selling homes fast. We empathize that you are not just selling your house, but that you are selling your home. We are sensitive to making the process as smooth as possible.
Curious what your home may be worth? Call one of our agents today at (518) 418-7747 for a no-strings-attached assessment.