Discover the latest market trends and what buyers are seeking.
As we begin a new year, there are some key changes in the market that everyone should be aware of. One important factor to note is that interest rates are shifting, though they are expected to adjust moderately. Interest rates significantly impact property value, as terms are just as important as price when buying or selling real estate. Here’s what you need to know to successfully navigate the market.
Proper pricing is crucial. The market remains active, with many buyers looking for properties. However, the biggest challenge I’m seeing is that many homes are being overlooked due to incorrect pricing. If a home’s price doesn’t align with its condition or the current market, buyers will move on. So, if you’re considering selling, it’s essential to price your home appropriately and ensure it’s in excellent condition before listing.
“Buyers are still out there, but they are looking for homes that are prepared and ready to go. ”
What are buyers looking for? Buyers are still out there, but they’re seeking homes that are prepared and move-in ready. Homes that are in showable condition are the ones selling. Buyers are willing to negotiate and collaborate with sellers, but they are focused on properties that meet their expectations for move-in readiness.
Negotiating effectively. When it comes to negotiations, both buyers and sellers are aiming for a mutually beneficial deal. Buyers remain interested in purchasing homes, but they don’t want to feel as though they’re taking advantage of sellers. They want to ensure the transaction works for both parties. Pricing the property correctly and keeping it in top condition is vital to making these deals happen.
New construction and market growth. An important factor to consider is the rise in new construction. More permits are being pulled, driven by an influx of people moving into the area and a strong job market. As a result, we’re seeing more available homes, which is contributing to moderate market growth. This increase in new homes is helping to balance inventory and sales.
Moderate growth ahead. Looking at the broader picture, moderate growth is expected this year. We will see a slight increase in inventory and a steady number of sales, but overall, the market will remain slow and steady. While it may not be an explosive year, it will be a healthy and productive year for real estate sales. There will still be plenty of transactions taking place, and this type of market benefits both buyers and sellers.
If you’re thinking of buying, selling, or investing, now is an excellent time to get involved. The market is steady, and with the right approach, it can be a great year for real estate transactions. If you have questions about how the market is moving, feel free to reach out. Contact me at 801-285-0521 or email me at Justin@JustinUdy.com. Let’s work together to help you take full advantage of the current market!
