Two Things Sellers Should Know

A lot has changed over the past year, and you may be wondering what’s in store for the spring housing market. If you’re planning to sell your home this season, here’s what experts — not TV talking heads — are saying you should keep in mind.

1. Houses That Are Priced Right Are Still Selling

Houses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says: “sellers who price and market their homes competitively shouldn’t have a problem finding a buyers.”

The need to price your house correctly is important, because the market has changed so much over the past year. Sellers, who are expecting the sometimes exorbitant prices that their neighbors or friends got in 2022, are probably going to be disappointed.

Do we still see over list price offers? Yes.

Are they as ridiculously high as they were a year or so ago? Not really.

According to Danielle Hale, Chief Economist at realtor.com, “With a smaller pool of buyers today and more competition from other homes on the market, home sellers will need to adjust their price expectations.”

2. Buyers Are Still Out There

As mortgage rates have risen and remain somewhat volatile, some buyers have stepped out, but also have come back in to the market. Fact is there are still plenty of reasons people are buying and selling homes today.

As we saw during the pandemic, life goes on. People need to move for a variety of reasons from changing jobs to living in a house that is too small, because the family has grown, or too big, because the kids have moved out.

Finding the best mortgage interest rate will be what’s it’s always been. Just another step in the homebuying process.

Bottom Line

There are still clear opportunities for sellers and buyers this spring. If you’re wondering if this is the right time to make a move, let’s talk at 508-360-5664 or [email protected]. Having moved last year, we have understand the process from all sides.

While this spring housing market is different than last year’s, sellers with realistic expectations who price their homes correctly are finding success. And that’s great news if you’re thinking about selling. Or buying.

Mari and Hank