THE BIG CITY TEAM
  • Home
  • Our Team
  • Blog
  • Guides
  • Contact Us

Perspective Matters When Selling Your Home Today

10/15/2022

1 Comment

 
Picture

Does the latest news about the housing market have you questioning your plans to sell your home? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown.

Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market. A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below):
Picture

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory we saw then. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.

Why does this matter to you? 

When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

Homes Are Still Selling Faster Than More Normal Years

And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low. The graph below uses data from the Realtors’ Confidence Index by the National Association of Realtors (NAR) to illustrate this trend:


As the graph shows, the pre-pandemic numbers (shown in blue) are higher than the numbers we saw during the pandemic (shown in green). That’s because the average days on the market started to decrease as homes sold at record pace during the pandemic. Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly (shown in orange) but are still far below the pre-pandemic norm.

What does this mean for you? 

While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years. And if you price it right, your home could still go under contract quickly.

Buyer Demand Has Moderated and Is Now in Line with More Typical Years

Buyer demand has softened this year in response to rising mortgage rates. But again, perspective is key. Getting 3-5 offers like sellers did during the pandemic isn’t the norm. The graph below uses data from NAR going back to 2018 to help tell the story of this shift over time (see graph below):
Picture
​
Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers (shown in blue). As the market heated up during the pandemic, the average number of offers skyrocketed as record-low mortgage rates drove up demand (shown in green). But most recently, the number of offers on homes sold today (shown in orange) has started to return to pre-pandemic levels as the market cools from the frenzy.

What’s the takeaway for you? 

Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared. The buyers are still out there, and if you price your house at current market value, you’ll still be able sell your house today.

Bottom Line

​
If you have questions about selling your house in today’s housing market, let’s connect. That way you have context around what’s happening now, so you’re up to date on what you can expect when you’re ready to move.
Picture
1 Comment
Mashkoor Khan link
10/15/2022 12:33:09 pm

Hi,
Our Agency found you are doing great work and you also working on your personal website and other directories. why you are not focused to build your brand and Empire? we also may help to give you more clients and boost your business with the help of Online Marketing Like Google Ads, YouTube Ads, Facebook Ads, and Instagram Ads because your audience more time spend in these platforms. So may your client come with different platforms and these platforms give may you opportunities to sell them your perfect client.
If you are interested then Contact Us

Official Website : https://rebornalter.com/
Official LinkedIn : https://www.linkedin.com/in/reborn-alter/
Official Phone : +92 3104743393

Reply



Leave a Reply.

    Picture

    BLOG Archives

    June 2025
    May 2025
    April 2025
    February 2025
    November 2024
    October 2024
    September 2024
    August 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    October 2021

​The Big City Team
Berkshire Hathaway HomeServices Fillmore
4717 Avenue N, Brooklyn, NY 11234


Colin R. O'Leary
Founder & Team Leader
Licensed R/E Salesperson
Call/Text: 646-300-2012
[email protected]

Picture
Picture

Your Trusted Partners in Real Estate Across the NYC Metro Area

© 2025 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC.
Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate.
Equal Housing Opportunity.

​Privacy Policy
​

Picture
  • Home
  • Our Team
  • Blog
  • Guides
  • Contact Us