As we step into the new year, home sellers may have concerns about the market and whether it is the right time to sell. In 2023, the real estate market offers a number of opportunities to take advantage of. In this blog post, we will share 3 key opportunities for home sellers to consider as they enter the market this year.
Don’t Price Your Home Back To March of 2022
During the peak of the market in 2021 and 2022, many sellers were over asking for their homes and still getting top dollar. However, it’s important to note that the market has since cooled down. Currently, the real estate market in San Jose has seen a drop of 20-25% in comparison to March or April of 2022. It’s crucial to work with a real estate expert to determine the right pricing strategy for your property.
More Reliance On Your Realtor
Gone are the days where you could simply put a sign in the front yard and have a distant realtor handle the rest. In today’s market, it’s essential to have a realtor who understands the market and can guide you through the process of preparing, staging, pricing, and marketing your property. A good realtor can negotiate top dollar for your home, often resulting in a 2-3% higher sale price compared to the average realtor.
Know The Market Trends
Historically, the real estate market follows a pattern of inventory dropping in January, reaching a peak in July, and then slowing down again in the latter half of the year. This year, we predict that 2023 will resemble 2019, with a rise in inventory in the summer months as sellers who were unrealistic with their pricing in 2022 enter the market.
If you’re thinking about selling your property this year, it’s never too early to start planning. Reach out at 408.515.1613 and let’s discuss your options and learn more about the real estate market. I’d love to guide and support you through this daunting process.
