A New Era for Real Estate: Welcome Back, 2019!

Remember the wild ride of the last few years? The bidding wars, the lightning-fast sales, and the feeling that you had to act immediately or miss out forever? It was a real estate market unlike anything we’d ever seen, driven by historically low interest rates and a major shift in how we live and work. It felt like the world had been turned upside down.

But guess what? The world is righting itself. And the real estate market is following suit. We’re seeing a definite shift, and for those of us who remember a time before the frenzy, it feels like a long-lost friend is returning. The market is getting back to normal—a lot like it was in 2019.

So, what does a “normal” market look like? Think of it as a balanced ecosystem. In the peak of the pandemic boom, the scales were tipped heavily in favor of sellers. Now, we’re seeing the balance begin to return. Here’s what that means for you, whether you’re looking to buy or sell.

For Buyers: Your Moment is Now.

The days of making an offer over the asking price on a home you’ve never even seen are over. Inventory is on the rise, and in many areas, we’re seeing the most homes available for sale since 2019. This means more options for you and less frantic competition. You can take your time, see multiple properties, and feel confident in your decision. While home prices are still elevated compared to pre-pandemic levels, the pace of price growth has slowed dramatically. This, combined with an increase in homes with price reductions, gives you more leverage to negotiate. This is a market where a little patience and a smart strategy can go a long way.

For Sellers: It’s All About Strategy.

The golden age of “list it and it’s gone” may be behind us, but that doesn’t mean it’s a bad time to sell. It simply means you have to be more strategic. Pricing your home correctly from the start is more important than ever. A house that is priced well and in good condition will still get attention. Be prepared for negotiations, and remember that buyers have more options now, so they’ll be looking for homes that stand out.

The Road to Normalcy

While the market is shifting, it’s not an abrupt crash. It’s a gradual, healthy rebalancing. The “lock-in” effect from homeowners with low-rate mortgages is a significant factor in keeping overall inventory below pre-pandemic levels nationally, but we’re seeing steady growth in new listings. Mortgage rates are still higher than the historic lows we saw, but they’re beginning to stabilize, and the market is adjusting. This is the new normal.

It’s an exciting time to be in real estate again, with a market that’s less about panic and more about purpose. It’s a market where a great agent and a thoughtful plan can make all the difference.