📉 Why Now Could Be a Buyer’s Market
If you've felt less competition at open houses lately, you're not imagining things—the data shows a real shift toward buyers. Here's a deeper look at the numbers and what they mean:
🏠 1. Fewer Homes Selling Above Asking Price
Only 28–29% of homes sold above list price this spring—down from 32% a year ago and far below the post-pandemic high of over 50% in 2022 Source: Business Insider.
This signals softening demand and increasing negotiation power for buyers.
📊 2. A Surge in Housing Inventory
Active listings jumped by about 14% year‑over‑year, giving buyers more camera lens options Source: Redfin.
Redfin reports there are nearly half a million more sellers than buyers in the market right now—the largest gap since 2013 Source: Business Insider.
More supply and fewer competing buyers collectively create downward pressure on prices.
⏱️ 3. Homes Are Staying on Market Longer
Only around 38% of homes are going under contract within two weeks—lowest in recent years Souce: Market Watch: Business Insider.
Average days on market have bumped up, sometimes doubling compared to the heated pace of 2022 Source: The Times UK.
Slower sales give buyers time to research, inspect, and negotiate confidently.
💵 4. Growing Seller Concessions
Sellers are increasingly reducing prices, offering credits, or covering closing costs just to close deals Source: NJ Real Estate
Negotiation is no longer just for asking price—it’s now table stakes.
🧭 What This Means for Buyers
More leverage: Offer below full list price, ask for extras like repairs, appraisal gaps, or closing cost help.
Shop smarter: You’ll have time to compare neighborhoods and evaluate conditions without pressure.
Be prepared: Even in a buyers’ market, desirable homes won't last. Get pre‑approved and be ready to act fast.
✅ In Summary
Buyers: Now is your moment. With rising inventory, fewer bidding wars, and flexible sellers—this is a prime time to negotiate and secure your ideal home.
Sellers: Pricing and presentation matter more than ever. Priced realistically and marketed well, good homes will still sell—just expect negotiations and fewer days on market.
Thinking of making a move? Reach out and we’ll help you develop a strategy tailored to today’s market conditions—whether you’re buying, selling, or both.
