When was the last time that there was a Sellers market? The last time that occurred here locally was around 2005-2006. But labels like that over-generalizes what really happens in the marketplace. Every home in every neighborhood in every section of town is different than the next. Some homes sell very quickly for full price. Others do not. A number of factors can cause this, but nine times out of ten the main reasons are either price or condition or both. Let’s say two homes in the same neighborhood are for sale and they are priced the same. They are similar in size, floor plan and features. But one needs painting, carpet, landscaping, repairs and updates. It’s obvious which one of the two is going to sell.
I’m thinking about this now because I’ve been talking with someone who is getting their home ready for the market to list with me soon. A lot of Sellers don’t get it, but I can tell from our conversations that they understand what is necessary in this market to sell their home. People thinking about a move may be a little spooked about the market now thinking it’s not a good time to sell a home, but that’s not true. There are lots of homes selling now. Sure, it’s not a red hot market like 2005-2006, but it’s still a good market. Each home is unique in the way the market responds to it. If someone wants their home to sell then price it appropriately and prepare it for the market by removing any condition issues. It will stand out from others and greatly increase the probability of success. Forget how the media portrays the market these days as a Buyers martket. If price and condition are in balance, the home will sell.