October 16, 2022

Perspective Matters When Selling Your House Today

Realtor shaking hands with young couple

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some things to keep in mind that a Realtor® would be happy to talk more in depth to you about. It’s still a sellers’ market even if things are cooling down[1].


Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still not near what’s considered a balanced market. According to the latest reported figures on OneKey MLS from September 2022, the NY Regional area served currently has a 3-month supply of homes, up from 2.5 last month. When there is 6-month inventory of homes for sale, it is considered a balanced market.


A recent article from Calculated Risk[2] helps put this year’s increased inventory into context (See below):

Housing supply is still historically low graph

The chart shows that supply this year has surpassed 2021 levels nationally by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory seen then. Back in 2019, considered a normal year in real estate, we’re roughly 40% below the housing supply we had at that time.


Why does this matter to you? When inventory is low, there is demand for your house because there aren’t enough homes available for sale.


Homes Are Still Selling Faster Than More Typical Years

While homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low. The graph below uses data from the Realtors’ Confidence Index[3] by the National Association of Realtors (NAR) to illustrate this trend:

Homes selling faster than pre-pandemic graph

As the graph shows, the pre-pandemic numbers (in blue) are higher than the numbers seen during the pandemic (in green). That’s because the average days on market started to decrease as homes sold at record pace during the pandemic. Most recently, due to the cooldown in the housing market, the average days on market have started to tick up slightly at a national scale (shown in orange) but are still far from pre-pandemic norm.


What does this mean for you? While it may not be as fast as it was a couple of month ago, homes are still selling much faster than they did in more normal, pre-pandemic years. And if you enlist a Realtor® to help you price it right, your home could still go under contract quickly.


Bottom Line

If you have questions about selling your house in today’s market, speak with a Realtor®, your local real estate expert. They’ll provide you with context about what’s happening now, locally, regionally, and nationally, so you’re up to date on what you can expect when you’re ready to move.

You may be interested in:

A close up of a real estate deed

What you Should Know About Deeds and Titles

April 9, 2025
Closing day is an exciting milestone for buyers and sellers alike. To complete the process of a home sale, a property’s ownership rights are formally transferred from the seller to the buyer. Here’s what you should know about deeds and titles:
A magnifying glass , pen , and a model house are on a wooden table representing a chart.

REALTORS® Confidence Index

March 28, 2025
The Market Outlook from the REALTORS® Confidence Index for sellers increased compared to last month.
A homeowners association document is sitting on a wooden table next to a pen and a book.

Homeowners Associations

March 28, 2025
In many housing markets, homeowners associations (HOAs) and other community associations can be a part of the homebuying (and owning) experience. Here’s what prospective buyers should know:
A woman is kneeling down in front of a house holding a sign that says home for sale.

Marketing Your Home

March 28, 2025
Once you decide to sell your home, your agent will work with you to determine the best strategy to reach potential buyers and attract strong offers. Here are some considerations when marketing your home:
A wooden house with the words property tax written on it

Property Taxes

March 28, 2025
Wherever you buy a home in the United States, property taxes are a reality of homeownership. An agent who is a REALTOR® can help connect you with a tax expert in your area, but here are the basics:
A man is holding a sold sign in front of a house.

Navigating Multiple Offers

March 28, 2025
When your home is on the market, you may receive offers from multiple interested buyers. Offers can vary greatly, and you will need to determine which one is best for you. Here's what sellers should know:
A cardboard box with the words moving day written on it

Innovative Strategies for a Seamless Spring Move: 5 Secrets for Moving Success

April 1, 2024
As spring approaches, many homeowners gearing up to sell their homes face the daunting task of moving. However, with some innovative strategies and the right supplies, you can make the process smoother and more efficient. Here are five tips tailored specifically for home sellers embarking on a spring move:
A magnifying glass is sitting on top of a table next to two small houses.

How Much is My Home Worth in Today’s Market?

April 1, 2024
As spring approaches and the real estate market begins to bloom, homeowners gearing up to sell their homes are undoubtedly eager to secure the best offer possible. The key to achieving this lies in understanding how real estate agents value properties and determine listing prices. Here's a glimpse into the process:
A family stands in front of a house for sale sign

Facts about Closing Costs that Homebuyers Need to Know

April 1, 2024
Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re saving for the down payment for your new home, don’t forget you’ll need to prepare for closing costs too.
Show More