If you’ve been contemplating selling your house and were concerned about buyer demand in the current real estate landscape, it’s essential to examine the data. While the market may not be as frenzied as the ‘unicorn’ years, there’s still considerable interest from potential buyers.
1. Showing Traffic Is Up
The ShowingTime Showing Index, a gauge of buyer home tours, reveals the frequency of buyer activity. While demand has tapered off compared to the ‘unicorn’ years, it remains higher than the last normal years in the market (2018-2019). The data suggests that buyers are still actively exploring housing options.
2. Sellers Are Still Seeing Multiple Offers
According to the National Association of Realtors (NAR), sellers are receiving an average of 2.5 offers on their homes. Although this is fewer than the ‘unicorn’ years, it represents an increase compared to last year and the more normal pre-‘unicorn’ years. Sellers are still experiencing strong interest from multiple buyers.
3. Homes Priced Right Are Selling Fast
Homes priced appropriately are moving quickly, showcasing the resilience of buyer demand. Despite slightly longer median days on market compared to the frenzy of the ‘unicorn’ years, homes are selling much faster than during the last normal years. This indicates that buyers are actively seeking and snapping up well-priced listings.
What Does This Mean for Sellers?
If you’re considering selling your house, rest assured that the current market still favors sellers. Multiple offers, increased showing traffic, and fast-selling homes are indicators of ongoing buyer enthusiasm. While the market may have shifted from the unprecedented conditions of the ‘unicorn’ years, it remains robust compared to historical norms.
When you’re ready to make a move, connect with a local real estate agent. They can provide valuable insights into current market conditions, help you price your home effectively, and guide you through a successful selling process. Don’t miss out on the opportunities available in the current real estate market—start the selling journey today.
