Is This What a Balanced Market Looks Like?

 

I'm here today to answer the question: are we entering a more balanced real estate market? There has been a lot of talk in the news lately about the real estate market and all the different things that are going on. I would like to argue that we are entering a more balanced real estate market, and I don't think this is a bad thing.

 

This change is a good thing for buyers that have been trying to get into the market. Now they're able to put an offer on a house and not necessarily be in a multiple-bidding situation. They might even be able to go through the house twice to decide if they really want to get it. There's just a lot less pressure on buyers right now. They're able to actually shop for a house and find one that they really love.

 

For sellers, this is not a bad thing either. Technically, a balanced market is when there are three to four months of inventory on the market, so if you're just looking at statistics, we're still in a seller's market, but we’re edging more toward a balanced market.

 

 

As a seller, you're going to want to think through things on how to make your house look great when you are listed for sale because you are going to have a little more competition. That's where we come into play. Things that maybe weren't as important before are now becoming really important again; things like staging, excellent photography, good marketing, communication with the agent you're working with, talking about pricing, and making sure that you start with the right price.

 

For these reasons, I think it's okay that we're hitting a more balanced market. It's going to be a bit of an adjustment after we've had such a crazy season in real estate, but I think overall it's going to be better for both buyers and sellers.

 

If you would like to discuss the current market with your situation, whether you're thinking about buying or selling, feel free to reach out by call or email. I would love to discuss your situation.