A balanced market is generally defined by having about six months' worth of available inventory, indicating a healthy level of activity where homeowners are selling and buyers are purchasing, with neither side having a distinct advantage. When inventory drops below six months, it's considered a seller's market, as there are fewer homes available, giving sellers the power to demand higher prices. Conversely, when inventory exceeds six months, the market starts to favor buyers because the abundance of homes leads to more competition among sellers, often resulting in lower prices and more favorable terms for buyers.
LIVING IN A FISHBOWL
When a house is on the market, it requires maintaining a constant “show-ready” condition, which can disrupt the daily routines. Sellers may also receive some unexpected calls from unrepresented buyers who want to schedule showings, along with frequent updates and appointment scheduling from the listing agent via phone, email, and text. On top of it, sellers will likely need to manage repairs and schedule multiple inspection appointments. Additionally, the home may be photographed for online listings, websites, and other marketing materials. There are repeated showings when the home first hits the market. Keep your home in pristine showing condition for impromptu visitors—the perfect prospect might just drop in at dinnertime.
CHILDREN (AND PETS) SHOULD BE UNSEEN, UNHEARD
Children and pets are distractions for potential buyers, affecting their experience of your home. You should plan for your children to be elsewhere and your pets crated or leashed, and no toys lying about or dog hair on the sofa. The dishes should always be done and the kitchen sparkling.
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