Selling Your House in a Buyers Market

Selling your house in a buyer’s market can be tricky. If you were selling in a hot market where properties are scarce, demand (and prices!) high you could probably count on getting more for your house and doing less; but faced with less than optimum real estate market conditions you need to be organized and have a sound strategy.

With decades of experience helping people buy and sell houses I have a little advice to offer about selling your house in a buyer’s market. You can also hire experts if you want to sell your house fast in Arizona.

A buyers market (also called a soft market) is one where there are lots of properties for sale and fewer prospective buyers, usually leading to lower prices. This is not the time to rush out and buy your next house impulsively (unless you can afford to carry two mortgages) because it usually takes longer to sell a house under these conditions.

Just because the general trend is to a buyer’s market, don't assume that's the case in your area. Housing markets can vary widely depending on a number of factors so you need to research what's happening in your neck of the woods before you list your property.

Find out what kind of homes have been selling and which direction prices have gone over the last six months to a year. Look at properties that are comparable to yours and compare their list prices with what they've actually been selling for, as well as how long it took for them to sell.