House Prices in a Competitive Market
You may be selling a home in a competitive market — for example, with low inventory and high demand. And you may be thinking “Yay!” or at least “Whew.” You know you’re likely to have more interested buyers, better offers, and a quicker trip to contract than you’d have otherwise. But along with that good news comes the need to manage your expectations by understanding what determines house prices and home sales. Factors include the right real estate agent, local market conditions, buyer preferences, seasonality, and mortgage rates versus inventory. Work with the Right Real Estate Agent to Sell Your Home What is going on in the U.S. as a whole is different than what’s going on in Austin, Texas. And both are different than what’s going on in your neighborhood. You might hear that it’s a strong seller’s market, but your home may be in a micro buyer’s market. Research your market on your own, then interview real estate professionals to find the best person to work with. Sellers should ap