There is good news in our current real estate market for sellers who are realistic and a bit patient. Local inventory for single-family homes is very low right now, which is helping to maintain values. If you are realistic about pricing, your home has a high likelihood of selling for approximately 94% of the list price. However, days on the market (DOM) have increased to an average of 83 days. DOM refers to the number of days your home is on the market before receiving an acceptable offer.

J.P. Morgan Research expects home prices to rise by 3% overall in 2025. The higher-for-longer interest rate backdrop is here to stay, with mortgage rates expected to ease only slightly to 6.7% by year-end.

The bottom line? Now is a good time to sell—or at the very least, get your home ready for sale—knowing that the sales process takes longer than it used to. You will want to be realistic about your price and ensure that your home truly sparkles!

Welcome to 2025! From what I’m reading, it doesn’t appear that interest rates will decrease significantly any time soon. Trends indicate that home values are neither decreasing notably nor increasing in any meaningful way. In other words, the market remains stable and slow. At the risk of stating the obvious, there is still a shortage of homes for sale. Buyers are challenged and stretched by higher home prices and higher interest rates.

I’ve been selling real estate in Jefferson County for 33 years, and this market is quite different from those I’ve experienced in the past. Currently, there’s a logjam caused by hesitation on both sides: buyers are hoping for lower home prices and interest rates, while sellers are holding out for higher prices and the bidding wars of recent years.

At the end of this piece, you’ll find a link to an article that discusses the reasons people move. I find it particularly relevant in today’s market. Additionally, we often see sellers leave because they “age out” of their homes. For those sellers, now is the time to start planning. Unfortunately, I’ve seen many people wait too long. They end up lacking the physical, emotional, and mental stamina that moving requires, and in some cases, they lose the ability to make their own decisions.

So much in this world is beyond our control. What we can control are our decisions. If you know a move is in your future, now is the time to start planning. Sellers, take this opportunity to make your home the best it can be so it competes well in the marketplace and earns you the best possible price. Buyers, stop waiting. Interest rates are more likely to go up than down—and the same goes for home prices.

As always, it’s my pleasure to serve you. This includes offering free advice about your current position in the market and what you can do to compete effectively.

New NAR Report: Moving Trends