Over the past five years or so, we’ve seen a fair amount of uniformity in the real estate market, with a high-demand pandemic-era market giving way to a super-sluggish locked-in market. Now, however, we’re seeing a market divide — a real estate tale of two markets, if you will. While some say we’ve already shifted to a buyer’s market, others still see a strong seller’s market holding sway.
Upswing or downswing? We wanted to know, so we asked you to tell us about the market where you are. Are listings sitting on the market longer or getting snapped up as soon as they hit? Are buyers finally seeing some relief or still being priced out? Is there more balance in your area, or is it still a nail-biter for every deal? Here’s what you’re seeing now:
- Sellers’ market in Union County, New Jersey
- Midwest: Still a seller’s market, but once you get to the $550,000 to $600,000+ range, there’s a lot of inventory that isn’t moving super fast. Sellers still expect to have the upper hand, but it needs to be well prepared and priced for it to go under contract within the first two weeks.
- Slow market; longer time on market for all but the top price ranges, which move faster.
Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
What did we miss? Please share your thoughts in the comments section below.
