http://pkrealtor.com/blog/categoryname_sellers-market/sort_entrydatetime-desc/ The number of homes actively for sale is at its highest point since 2020 — and that’s a big deal for any homebuyer out there. That gives you the widest selection of homes to choose from right now that you’ve had in five years. That means a better shot at finding the home that truly fits and the chance to make a deal on your terms. Want to see what’s for sale in our local market? DM me. http://pkrealtor.com/blog/995/inventory-of-homes-for-sale-at-5-year-high-graph/ Tue, 09 Sep 2025 09:35:28 -0500  For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room.In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move.What Is a Buyer’s Market vs. a Seller’s Market?In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate.On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home.The Market Is Starting To Balance OutFor years, almost every market in the country was a strong seller’s market. That made it tough for buyers – especially first-timers. But now, things are shifting. According to Zillow, the national housing market is balancing out (see graph below):The index used in this graph measures whether the national housing market is more of a seller’s market, buyer’s market, or neutral market – basically, whether it favors buyers, sellers, or if it’s not really swinging either way. Each month, the market is measured between 0 and 100. The closer to 100, the bigger the advantage sellers have.The orange bars in the middle of the graph show the years when sellers had their strongest advantage, from 2020 to early 2022. But, as time has gone on, the market has become more balanced. It shifted from a strong seller’s market to a less intense one. And lately, it's been neutral more than anything else (that’s the gray bars on the right side of the graph). That means buyers are gaining some negotiating power again.In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago.Why Are Things Changing?Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth. As data from Realtor.com shows, the supply of available homes for sale isn’t growing at the same rate everywhere (see graph below):This graph shows how inventory has changed compared to last year (blue bars) and compared to 2017–2019 (red bars) in different regions of the country.The South and West regions of the U.S. have seen big jumps in housing inventory in the past year (that’s the blue on the right). Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there.But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic (that’s why those red bars are so big). That means those areas are more likely to stay seller’s markets for now.What This Means for YouEvery local market is different. Even if the national headlines say one thing, your town (or even your neighborhood) could be telling a totally different story.Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now. As Zillow says:“Agents are experts on their local markets and can craft buying or selling strategies tailored to local market conditions.”Agents understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With their expert strategies, you can move no matter which way the market is leaning, because they know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price a house right, how to negotiate based on who has more leverage, and more.Bottom LineIf you're ready to make a move, or even just thinking about it, let’s connect. That way, you’ll have someone to help you understand our local market and create a game plan that works for you.What’s one thing you’re curious about when it comes to the market in our area? http://pkrealtor.com/blog/910/a-tale-of-two-housing-markets/ Wed, 30 Apr 2025 07:29:47 -0500  According to Realtor.com, the best week to list your house this year was April 13–19. And since that week has come and gone, you might be wondering: did I miss my chance? Not at all – and here’s why.That’s just one source’s take, based on their own research. Other organizations run similar studies. And since different places use different methodologies for their research, sometimes the results vary too – and that’s actually good news for you. According to Zillow, the best time to list your house is still ahead.The latest research from Zillow says sellers who list their homes in late May tend to see higher sale prices based on home sales from last year. The study explains why:“Search activity typically peaks before Memorial Day, as shoppers get serious about house hunting before their summer vacation and the new school year in the fall. By targeting late spring, sellers can get their home listed when the most shoppers are looking. When more buyers are competing for homes, sellers can command a higher price.”And they’re not the only ones saying selling in May can help homeowners net top dollar. ATTOM Data conducted a similar study by analyzing 59 million home sales over the past 13 years:“Freshly compiled sales statistics from ATTOM demonstrate that home sellers continue to reap significant benefits from listing their properties during the month of May. Examination of home sales trends spanning thirteen years reveals that, on average, sellers are commanding 11.1 percent premium above the estimated market value.”An article from Bankrate echoes this sentiment and brings this all together to show that any time in April or May is a good time:“Some patterns and trends usually do hold true throughout the year, and one is that spring continues to be the best time to sell. Sellers can net thousands of dollars more if they sell during the peak months of April and May. . .”The window to sell during prime time is very much still open, so you can make a move and potentially cash in big if you sell now.That said, the best week to list your house really depends on a few local factors, like buyer demand, how many homes are for sale nearby, and how quickly things are selling. That’s why working with an experienced agent who knows your area is key. Bottom LineSpring is the busiest time in real estate – and there’s still time to take full advantage of that momentum.What’s holding you back from making your move this spring? And what would help you feel ready? Let’s talk about it. http://pkrealtor.com/blog/903/don’t-miss-this-prime-spring-window-to-sell-your-house/ Mon, 21 Apr 2025 06:58:58 -0500  If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains:“Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . .”The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now.Homeowners are listing their houses at the highest pace we’ve seen in a while.New Listings Are on the RiseOver the past few months, the number of new listings, or homes that have recently been put on the market for sale, has been steadily rising (see graph below):Basically, more people are putting their homes on the market each month – whether they’re moving up, downsizing, or relocating. And this trend is a positive sign for the housing market.Sellers who may have been on the fence the past few years are starting to jump back in. That’s helping to boost overall inventory and create better opportunities for both buyers and move-up sellers alike.But it’s not just that the number of fresh options is up month-over-month; there’s also been a jump compared to last year. According to Realtor.com, new listings in March were 10.2% higher than last year, making it the biggest March for new listings since 2021 (see graph below):For anyone who’s been waiting for more choices, this is exactly what you’ve been hoping for – because more homes coming onto the market means more options and a better shot at finding one that fits your needs.To make sure you don't miss out on any of the latest listings for your area, lean on a local real estate agent.Bottom LineIf you're thinking about making a move this spring, now may be the time to start exploring your options. With more fresh listings hitting the market, you may find a home you love waiting for you.What features or neighborhoods are at the top of your wish list? http://pkrealtor.com/blog/893/house-hunting-just-got-easier-–-here’s-why/ Mon, 07 Apr 2025 11:52:30 -0500  When you put your house on the market, you want to sell it quickly and for the best price possible; that's generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.According to data from Realtor.com, in February, price cuts were the highest they’ve been in any other February since 2019 (see graph below):If you consider that 2019 was the last true normal year for the housing market – that's a big deal. We’re getting back to what’s typical for the market. This isn’t the same frenzied seller’s market we saw a few years ago. You may not get the same price your neighbor did at the height of the pandemic. And that means you may need to reset your expectations.Because here’s the reality. If you shoot too high and have to lower your price after the fact, you could actually end up walking away with lower offers than if you’d priced it right from the start. So, how do you avoid that? You lean on your agent.How an Agent Helps You Nail the Right Price A great agent doesn’t just pull a number out of thin air. They’ll use real data and market trends to make sure your house is priced based on what your specific home is valued at today. So, you’re setting a realistic price – one that’ll draw in serious buyers.And based on your agent’s analysis of your local market, they may even recommend strategically pricing slightly below market value to help your house attract more eyes and more competitive offers. Here’s how your agent will determine the right number for your house:They look at recent sales. What did similar homes in your area actually sell for? Not list for, sell for.They analyze local market trends. Your home’s value isn’t just about what you want for it, it’s about what buyers in your area are willing to pay.They craft the right strategy. They’ll make sure your home is priced to attract attention and create a sense of urgency among buyers.Why Overpricing Backfires Unfortunately, some sellers still ignore their agent’s advice and prefer to start high just to see what happens. The hope being maybe they get their full asking price, or they at least have more wiggle room for negotiation. But pricing high usually ends up costing you, and here’s why:Buyers may not even look at it. Today’s buyers are more budget-conscious than ever. If they see a home that seems overpriced, they’re likely to skip it completely rather than try to negotiate.It could sit on the market for too long. The longer your home sits unsold, the more buyers will assume something’s wrong with it. That can make it even harder to sell down the line.You might end up getting less. Homes that require a price cut often sell for less than they would have if they had been priced right from the start.You can see that shake out in the graph below. It uses data from the National Association of Realtors (NAR) to show that the longer a house sits, the less it’ll sell for:This graph shows that if a house sells within the first 4 weeks it is listed, it usually goes for full price. Based on experience, that's what usually happens to homes that are priced at or just below current market value. If it’s priced right, buyers will be interested, and, ultimately, willing to pay the asking price – or compete with other buyers and even go over asking.But if a house isn’t priced right, it doesn’t sell as quickly. And this graph shows that, after the first 4 weeks on the market, the price starts to drop from there. That’s because buyer interest falls off the longer it sits. So, it becomes more likely a seller will either accept a lower offer because that’s all they have, or opt to do a price drop to draw people back in.Bottom LineThe last thing you want is to list too high, watch your house sit, and then have to drop the price just to get attention. Let’s connect so that doesn’t happen to you.Want to make sure your home sells quickly and for the best price? Let’s go over the right pricing strategy for your house. http://pkrealtor.com/blog/891/the-1-thing-sellers-need-to-know-about-their-asking-price/ Thu, 03 Apr 2025 10:58:21 -0500