The average home now takes nearly two months to sell — the slowest pace since before the pandemic, according to new data from Redfin.
Melanie Atkinson, Compass realtor, tells Wealth host Brad Smith that while this trend marks a return to normalcy, it requires a shift in strategy for both buyers and sellers.
Atkinson advises sellers to "go back to the basics of selling" and proactively focus on presentation, marketing, and setting realistic prices. She also notes the importance of keeping realistic expectations, as sellers are unlikely to receive as many offers as during the pandemic boom.
"There are still buyers buying; they just have a lot more choices now," Atkinson emphasizes.
She also points out that despite it currently being a buyers' market, "buyers also have to be realistic ... you have to be patient as a buyer if you want the best deal [and] you need to look at houses that have maybe been on the market for over 60 days that are stale."
Watch the video above to hear Atkinson's strategies for buyers and sellers in today's shifting market, plus tips on navigating rising inventory and prices.
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This post was written by Josh Lynch