Message for Buyers
Buyers, you have something we haven’t been able to say very often over the past several years: you have time, choices, and negotiating power. Homes are averaging 63 days on the market, and the total seller discount has reached 5.2%, including price changes and negotiations. That doesn’t mean every seller is going to take 5% off their price, but it does tell us that buyers are successfully pushing back when price and value don’t line up. And depending on your price range, your leverage may be even greater. Above $1.8M, most Foothills price segments are currently buyer markets with more than six months of inventory. So be selective, ask questions, and negotiate where it makes sense. But don’t confuse having leverage with having unlimited time. The strongest homes, especially in price ranges with tighter inventory, can still attract buyers quickly. When the right one comes along, be prepared to move.
Message for Sellers
Sellers, you did not miss the boat. Average and median selling prices are both still higher than they were last year. But this is not a market where simply putting a home on the MLS and waiting is a strategy. Buyers have more time to compare homes, and they are negotiating harder. That means your home needs to show up and SHINE from day one. Condition matters. Presentation matters. Marketing matters. And pricing matters tremendously. With homes averaging 63 days on market and total seller discounts reaching 5.2%, the goal isn’t simply to get your home listed. It’s to understand the competition, watch how buyers are responding and be willing to adjust when the market gives us information. Most importantly, make sure the person representing you has more than a marketing plan. You want a strategy, measurable data to monitor and a plan for what to do with that information. There are still buyers out there, and homes are still selling. Your job isn’t to worry about whether you missed the market. Your job is to make sure your home is one buyers don’t want to miss.
There’s opportunity on both sides of this market. Buyers have more choices and negotiating power. Sellers are still seeing values hold, but they have to compete harder for buyer attention. And for both, the difference between a good outcome and a frustrating one increasingly comes down to preparation, strategy and understanding the market you’re actually in. Don’t make a real estate decision based on a national headline or even one Foothills statistic. The overall market may be balanced, but your specific price range could be operating as a seller’s market or a buyer’s market right now. Whether you’re thinking about buying, selling or simply wondering what these changes mean for you, let’s look at your numbers, your circumstances and your goals. You may have more opportunity in this market than you think.
Tupper's Team
REALTORS® at Madison & Company Properties
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