The housing market is driven by supply and demand, and we are currently in a buyer’s market with more homes available than there are buyers. Inventory gradually increased last year, and we saw a sharp increase in supply in August as buyers decided to hold off on purchasing, expecting interest rates to drop and waiting for more certainty after the election.
Many expected buyers to return in 2025, potentially shifting back to a seller’s market. However, so far this year, demand remains slow, while the real surprise has been the surge in new listings. Inventory has risen sharply, up 23% since January 2025 and 48% since March 2024. With more homes sitting on the market, the average days on market is 79 days. This shift means sellers need to be more strategic than ever to attract buyers.
May and June are typically the busiest months for closings as buyers aim to move while school is out and before the peak summer heat sets in. With the seasonal increase in buyers and if interest rates continue their (slow) decline we hope to see a much stronger spring market.
WHAT DO CURRENT MARKET CONDITIONS MEAN FOR BUYERS AND SELLERS?
BUYERS
For buyers, the current market presents a great opportunity. There are more homes to choose from and less pressure to have to make a quick decision or having to compete with other buyers and multiple offers (although we are still seeing multiple offers with some listings).
In a buyer’s market, you have much more negotiating power and can ask for things such as:
- A lower purchase price
- Seller-paid closing costs
- Seller concessions to help buy down your interest rate
- More repairs before closing
- A home warranty paid for by the seller
Other terms that would be beneficial for you
However, not every home is negotiable. Properties that just come on the market are less likely to negotiate or reduce their price. A home with stunning views, recently updated, and move-in ready are selling quickly and we are still seeing multiple offers on homes that stand out from the competition.
SELLERS
With increased supply, buyers have more choices and are taking their time. The homes selling the fastest are:
- Move-in Ready, Updated Homes
Today’s buyers prefer homes that are move-in ready. Properties with modern kitchens, fresh paint, updated flooring, and stylish bathrooms tend to sell quickly. Many buyers, especially first-time homebuyers, don’t want the hassle of remodeling. Homes with openconcept layouts, newer HVAC system, and a new roof are particularly desirable. - Well-Maintained Homes
In today’s market, buyers no longer have to settle for a property that shows signs of neglect. They are far more likely to choose a well-maintained home with fewer potential issues over one that may require extensive repairs. - Homes with Unique Features
Properties with standout features, such as spectacular views, resort-style backyards, outdoor living spaces, or multi-generational layouts, often sell faster than standard listings.
TIPS FOR SELLERS: HOW TO SELL FASTER
If you’re planning to sell your home, here are some tips to help increase your chances of a quick sale:
- Price It Right
Work with a local experienced real estate agent to set a competitive price based on market trends and comparable sales in your area. - Make Key Updates
Small upgrades, such as fresh paint, new fixtures, and updated landscaping, can make a big impact. - Stage Your Home
It doesn’t have to cost anything to stage your home. Doing a deep clean and simple decluttering can help buyers envision themselves in the space. - Choose a Local, Experienced Realtor
With increased competition, you need a top realtor with strong marketing and negotiation skills — someone who knows your neighborhood and local market inside and out. - Be Flexible with Showings
The more available your home is for potential buyers to view, the better chance you have of receiving offers quickly. - Consider Incentives
Offering a home warranty or assisting with closing costs can make your home more appealing.
By understanding market trends and making strategic updates, sellers can position their homes for a faster sale. Whether you are looking to buy or sell, staying informed is key.
If you would like advice on selling your home in today’s market or are looking to purchase a home, please don’t hesitate to contact me.