Adjusting to a Buyers Market

Working as a full time Realtor for 23 plus years, I’ve been closely monitoring our current real estate climate, and I believe it’s important to update my fellow residents and homeowners on what’s happening in the market right now.

I have lived and worked through the crash of 2008, short sales, the pandemic and other changes to the real estate market.  Every significant change in the market has required a change to the way homes are sold.  

We all learned about supply and demand in school and how that effect everything that we purchase, and the real estate market is no different.

The biggest issue when a market changes from a seller’s market to a buyer’s market is sellers are reluctant to adjust to the decline in prices or valuations of their homes.

The valuation of a home can be a significant downturn as we saw in the crash of 2008 to smaller adjustments.   For sellers to be successful in beating out the competition for a buyer, they have to be proactive, not reactive.  Let me explain:

Recently, you may have noticed a significant shift towards what experts are calling a “buyer’s market.” Homes are staying listed longer than they have in years, and the era of multiple offers and bidding wars seems to be behind us, at least for the moment.

No matter what county you live in, this change has been coming on since the beginning of 2024.  

In Levy County for example, we’ve seen a remarkable 95% increase in housing inventory compared to this time last year, making it the highest jump among the tri-county area.  Marion county has a 34% increase, and Citrus has a  57% increase of homes for sale.   What does this mean for you, whether you’re looking to sell or buy?

For sellers, it’s crucial to accurately price your home. Relying solely on automated tools like Zillow’s “Zestimate” can be misleading since these algorithms haven’t physically assessed your property. Proper pricing involves selecting the right comparable properties, adjusting for differences in size, amenities, condition, and location. To navigate this complex task effectively, partnering with an experienced agent who understands the nuances of our evolving market is essential.

In this competitive landscape, effective marketing is paramount. Gone are the days when a few quick snapshots suffice. Professional photography that captures your home in its best light, including 360-degree virtual tours of both the interior and exterior, can significantly enhance your listing. These tools not only attract serious buyers but also reduce unnecessary showings, ensuring that those who visit are genuinely interested.

Buyers, on the other hand, now have the luxury of choice. They’re scrutinizing properties more closely, seeking concessions and incentives to sweeten their purchase. With an abundance of homes available, sellers must differentiate their listings through superior marketing strategies and realistic pricing.

Whether you’re contemplating a sale or in search of your dream home in Levy County or the surrounding areas, I invite you to leverage my decades of experience. With a proven track record and a 99% listing to sale ratio, I specialize in utilizing cutting-edge tools like 360 tours with virtual staging to showcase properties effectively.

Take a look at this example of my marketing:

• Virtual staging example: : https://kuula.co/share/collection/7ckjV?logo=0&info=0&fs=1&vr=1&sd=1&initload=0&thumbs=

Let’s discuss your real estate goals today and put together a realistic plan of action, strategic pricing and positioning of your home and incredible marketing tools including video and/or 360 tours, professional photography, paid social media ads, mailing lists, newsletters and more!

Call me today at 352-405-1663 and let’s turn your dreams of homeownership or selling your home into reality for you and your family.