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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 of the biggest factors is the current housing market—specifically, whether it’s a buyer’s or seller’s market. Knowing where things stand can help you make a more confident, informed decision about when to list.
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:
- 6 months of supply = balanced market
- Less than 6 months = seller’s market
- More than 6 months = buyer’s market
In a seller’s market, homes tend to sell faster and for stronger prices due to limited inventory. In a buyer’s market, more inventory often leads to more competition among sellers.
Step 1: Find the Average Number of Homes Sold Per Month
To get a snapshot of your local market, start by focusing on your city, neighborhood, or ZIP code.
Here’s how:
- Head to Zillow.com/homes
- Select “Recently Sold”
- Filter for a 6-month timeframe and choose property type “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:
Example:
Let’s say Kettering currently has 250 homes for sale:
250 ÷ 76.5 = ~3.3 months of supply
That’s well under the 6-month threshold, meaning you’re likely in 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 local expert can offer:
- A comprehensive market analysis
- Smart pricing strategies tailored to your home
- Personalized advice to prepare your home for sale
Ready to make your next move?
If you’re thinking about selling but want clarity on timing, market conditions, and how to position your home, we’re here to help.
Reach out to a Coldwell Banker Heritage agent for a one-on-one consultation and insights specific to your neighborhood.
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