If You’re Buying…
You need to know what’s happening in your area because that’s going to influence everything from how quickly you need to make an offer to how much negotiating power you’ll have once you do.
- In a market where prices are still inching up, waiting around could mean paying more down the line.
- In a market where they’re easing, you may be able to ask for things like repairs or closing cost help to sweeten the deal.
The bottom line? Knowing your local trend puts you in the driver’s seat.
If You’re Selling…
You’ll want to be aware of local trends, so you’ll know how to price your house and how much you can expect to negotiate.
- In a market where prices are still rising, you may not need to make many compromises to get your home sold.
- But if you’re in a market where prices are coming down, setting the right price from the start and being willing to negotiate becomes much more important.
The big action item for homeowners? Sellers need to have an agent’s local perspective if they want to avoid making the wrong call on pricing – and homes that are priced right are definitely selling.
The Real Story Is Local
The national averages can point to broad trends, and that’s helpful context. But sometimes you’re going to need a local point of view because what’s happening in your zip code could look different. As Anthony Smith, Senior Economist at Realtor.com, article puts it:
“While national prices continued to climb, local market conditions have become increasingly fragmented…This regional divide is expected to continue influencing price dynamics and sales activity as the fall season gets underway.”
That’s why the smartest move, whether you’re buying or selling, is to lean on a local agent who’s an expert on your market.
They’ll have the data and the experience to tell you whether prices in your area are holding steady, moving up, or softening a bit – and how that could impact your move.
Bottom Line
Headlines calling home prices flat may be grabbing attention, but they’re not giving you the full picture.
Has anyone taken the time to walk you through what we’re seeing right here, right now?
If you want the real story about what prices are doing in our market, let’s connect.