01/14/2025
Interest rates are back above 7%, and homes are taking longer to sell compared to the past couple of years. Traffic has been slower, and I know many sellers are feeling frustrated, wondering why their home hasn’t sold yet.
Here’s the reality and the average days a home is taking to sell right now (data from WPML)
Jefferson Hills: 88 days
Bethel Park: 40 days
South Park: 38 days
Mount Lebanon: 32 days
Peter’s Township: 66 days
Despite these numbers, I’m still seeing homes priced correctly sell quicker in this market. There is still hope!
For Buyers:
Now is the time to negotiate! Send that offer even if it’s a little lower than what the sellers want. You can also ask sellers for concessions, like rate buy-downs or help with closing costs. If you’ve been waiting for the right moment, this could be it!
For Sellers:
Pricing and marketing your home right from the start is essential. I highly recommend pre-inspections to help smooth out the transaction process and potentially save you money during negotiations. Patience will also be key, as the spring market is predicted to pick up with more inventory and buyer activity. If you have a strong marketing plan and team and you house still isn’t selling then the market may be telling you your home is listed to high. Try a price improvement and see if you get more traction.
The busy spring market is just around the corner. 🎉
Whether you’re buying or selling, let’s make sure you’re ready to take advantage of the opportunities ahead!
REALTORs® what are you seeing in your local market?
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