🏠 The Real Estate Market Is Normalizing — And That’s Why Strategy Matters More Than Ever

Lately, many homeowners are wondering: “Is the market getting worse?”

Homes aren't moving as fast as they used to, and that’s making some sellers anxious.But here’s the truth: the market isn’t crashing — it’s recalibrating.We’re simply moving away from the hyper-competitive seller’s market of the past few years toward a healthier, more balanced environment.

That doesn’t mean it’s easy.It means strategy and precision are more important than ever.

And remember: while this analysis is based on national data, local markets vary widely.For example, in high-demand school districts around the Chicago suburbs, inventory is still tight, and competition among buyers remains strong.So what’s true nationally might not be true on your street — local insight is key.

1️⃣ Inventory Is Rising — Buyers Have More Leverage

Nationwide, housing inventory is increasing and slowly returning to pre-pandemic levels.Buyers now have more options, which means sellers must work harder to stand out and price wisely.

But again, this isn’t universal.In Chicago’s northern suburbs, especially near top schools, inventory remains low and good homes are still getting multiple offers.That’s why local market strategy is essential.

2️⃣ Pricing Matters More Than Ever

Today’s buyers are price-sensitive. With more choices, they won’t chase overpriced homes.

As of May 2024, 19.1% of sellers reduced their asking price.To avoid that situation, the smartest move is to work with an expert who understands your local market and can help you set a realistic, competitive price from the start.

3️⃣ Flexibility Wins in Negotiation

Gone are the days when buyers waived every contingency.Now, they’re requesting repairs, credits, and closing cost assistance again — and sellers are responding.

In fact, Redfin reports that 44.4% of sellers are making concessions in today’s market.That’s not a loss — it’s a smart move.Even if you make a small concession today, most sellers are still seeing strong returns after several years of value growth (up to 55% on average over 5 years!).

The right negotiation strategy varies by area and price point, so it’s best to run the numbers with a local expert.

✅ In Summary

We’re no longer in a pure seller’s market or a full buyer’s market.This is a transitional period of normalization, where expert guidance makes all the difference.

And once again — national trends don’t tell the whole story.In places like the Chicago suburbs with strong school districts, inventory remains low and buyer demand is still high.Success now depends on tailoring your strategy to your specific neighborhood.

📞 Want to understand what’s really happening in your area? Let’s talk.Call Hansang Chul at Chicago Bokdeokbang: 773-717-2227📧 ChicagoBDB@gmail.com