We had been in a Seller’s market since 1999 with limited inventory and multiple buyers for each home. Over that span there was little need for sellers to fix up their homes in order to sell or even price it appropriately. Times have changed.

August, 2005 brought the market to a plateau. We no longer found one sale or home going under contract pushing the market another 5 or 10k. Instead we began to see inventory double. The average life of an active home jumped from 1 month to over 3.5 months on the market. As a result of homes being on the market longer the inventory has continued to expand. Buyers now have choices and with those choices the power to choose between not only options but pricing on homes.

Today Sellers need to not only have their homes in the best condition they also need to price it according to what has sold versus the inflated inventory on the market. Buyers now have the opportunity to get concessions paid or even see flexibility in the list price. Both Buyers & Sellers should consult the expert opinion of an experienced Real Estate Consultant before listing or purchasing a home in this ever changing market.