A Sales Perspective

Does the state of the current real estate market have you second guessing whether now is the time to sell your house or not? Well, as the saying goes, the right time to buy (or sell, in this case) is the right time to buy. Or… sell. Let’s look at some stats to keep things in perspective. 

Inventory is still historically low. Supply of homes has increased this year compared to 2021 but when looking at three-year totals numbers still do not reflect a balanced market. Housing inventory for the first week of October 2022 is 30% up from the same week in 2021, 1% up from 2020, but 40% lower than the first week of October 2019. 

What this means for you, the seller, is that when inventory is still this low, demand is still high. Even with mortgage rates and prices going up the way they are, that just means that buyers on the market are serious. 

Days on Market

Additionally, while homes aren’t selling as quickly as they did during peak pandemic sales days, they still are spending fewer days on market than pre-pandemic levels. Prior to the pandemic, the longest amount of average days on market was 49 days in February 2019, compared to just 16 days in August of 2022. 

So keeping things in perspective, what this means is that if you price your home right, odds are in your favor that your home will still sell faster than it would have prior to 2019. 

Regardless of what the market is doing, as long as you’re working with a licensed and qualified real estate professional, they will steer you in the right direction. Don’t be afraid to ask questions. We’re here to help you with both the buying and selling of your properties!