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Is It the Right Time to Sell Your Home? Here’s How to Know
Thinking about selling your home but unsure if now’s the right time? One key factor to consider is the state of the housing market—specifically, whether you’re in a buyer’s or seller’s market. Understanding this can help you determine whether listing your home could lead to a faster sale or a higher price.
What’s a Buyer’s or Seller’s Market?
Real estate professionals use a metric called months of supply to assess market conditions. This number shows how long it would take for all current listings to sell if no new homes came on the market.
If the market has:
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6 months of supply = balanced market
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Less than 6 months = seller’s market
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More than 6 months = buyer’s market
Step 1: Find the Average Number of Homes Sold Per Month
Start by narrowing your focus to a specific city, neighborhood, or zip code. Once you selected your area of choice, visit Zillow.com/homes, select “Recently Sold,” choose a 6-month timeframe, and set the property type to “Houses.”
Example:
If 459 homes were sold in Kettering, OH over 6 months:
459 ÷ 6 = 76.5 homes sold per month
Step 2: Determine the Current Supply
Next, use the same search area to find how many homes are currently listed. For example, if Kettering currently has 250 homes for sale:
250 ÷ 76.5 = ~3.3 months of supply
That’s well below the 6-month mark—indicating a seller’s market where demand is outpacing supply.
Step 3: Talk to a Real Estate Expert
While this method gives you a rough idea of your local market, it doesn’t factor in interest rates, economic trends, or seasonality. That’s why consulting with a real estate agent is so valuable.
A professional can offer:
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A detailed market analysis
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Strategic pricing recommendations
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Personalized advice on preparing your home for sale
Curious about your next move?
Connect with a Coldwell Banker Heritage agent to get expert guidance tailored to your home and neighborhood.
