Is Now a Good Time to Buy or Sell Real Estate?

Why the Right Time Depends on More Than Just the Market

It’s one of the most common questions in real estate: Should I buy or sell now, or would I be better off waiting?

With mortgage rates remaining elevated, home prices holding steady, and inventory levels shifting, it’s understandable why both buyers and sellers might feel uncertain about their next move.

The truth is, there isn’t a one-size-fits-all answer. While national headlines provide a snapshot of the housing market, real estate is local—and your personal circumstances matter just as much as market conditions.

Let’s take a closer look at what buyers and sellers should consider before making their next move.

Recent market estimates paint an interesting picture:

• Mortgage Rates: With 30-year fixed mortgage rates hovering around 7%–7.5%, affordability continues to be a challenge for many buyers.
• Home Prices: The national median home sale price remains high, with recent estimates around $393,000–$394,000.
• Inventory: More homes are becoming available nationally, giving buyers additional choices and, in some markets, greater negotiating power.

However, not every region is experiencing the same conditions.

Some parts of the country are shifting toward a buyer’s market, but here in the Midwest many communities continue to experience limited inventory and healthy buyer demand.

That’s why understanding your local market is so important.

Thinking About Buying? Here’s What You Should Know.

If you’ve been waiting for the perfect moment to purchase a home, you may be waiting longer than necessary.

Rather than trying to time the market, focus on whether buying makes sense for your financial situation and long-term goals.

1. Buy When You’re Financially Ready

Having manageable debt, an emergency fund, a comfortable down payment, and a monthly housing budget you can realistically afford are far more important than trying to predict where mortgage rates will go next.

Remember, if rates decrease in the future, refinancing may be an option. However, refinancing is never guaranteed, so make sure you’re comfortable with today’s payment before purchasing.

2. Don’t Be Afraid to Negotiate

In markets where inventory is increasing and homes are taking longer to sell, buyers may have opportunities to negotiate purchase prices, request repairs, or ask sellers to contribute toward closing costs.

Even in competitive markets, having an experienced real estate professional who understands local conditions can make a significant difference.

3. Remember That Real Estate Is Local

National housing trends don’t necessarily reflect what’s happening in your neighborhood, so don’t depend on the national news reports.

For example, buyers in certain Sun Belt markets may find more inventory and negotiating opportunities, while buyers here in the Chicagoland area may still encounter multiple-offer situations on desirable, well-priced homes.

Knowing what is happening in the communities you’re considering will help you make a smarter purchase. That’s why you want to work with a local real estate agent, like me.

Thinking About Selling? Here Are Three Things to Consider.

If you’re a homeowner contemplating a move, today’s market presents its own set of opportunities and challenges.

1. Consider Your Current Mortgage Rate

Many homeowners secured mortgage rates around 3% or 4% in previous years. Understandably, giving up that rate to purchase another home at today’s higher rates can be a difficult decision.

Before listing, it’s important to understand what your next home will cost—not just the purchase price, but your anticipated monthly payment.

2. Know How Much Equity You Have

Homeowners who have owned their properties for several years may have built substantial equity.

Before selling, review your estimated market value, remaining mortgage balance, and anticipated selling expenses. Depending on your circumstances, total selling costs may reach approximately 8%–10% of the sale price.

Understanding your potential net proceeds will help determine how much purchasing power you’ll have for your next home.

3. Price It Right From the Beginning

Today’s buyers are informed, selective, and increasingly conscious of affordability.

While properly priced homes in desirable locations can still attract strong interest, overpricing may cause a property to sit on the market longer than necessary.

A thoughtful pricing strategy, professional presentation, and effective marketing are essential to attracting serious buyers.

And remember, selling a home isn’t always about chasing the highest possible price. Sometimes it’s about moving closer to family, downsizing, relocating for work, or finding a home that better suits your lifestyle.

Those reasons don’t necessarily need to wait for the perfect market.

So, Should You Buy or Sell Now?

Here’s my perspective: The right time to make a move is when the move makes sense for YOU.

Trying to perfectly time the real estate market is nearly impossible. Interest rates fluctuate, inventory changes, and home prices respond to local supply and demand.

What matters most is having a clear understanding of your goals, your financial position, and the opportunities available in your specific market.

Whether you’re a first-time buyer, considering a move-up purchase, thinking about right-sizing, or simply curious about your home’s current value, having accurate information is the best place to start.

Let’s Talk About Your Next Move!

You don’t have to navigate today’s changing real estate market alone.

If you’re wondering whether now is the right time to buy or sell, I’d be happy to help you explore your options, evaluate current market conditions, and create a plan that works for your situation.

Because in real estate, the best decisions aren’t made by following headlines. They’re made by understanding your options.

Let’s connect and talk about what makes sense for you. Don’t forget to request copies of my Seller’s Guide, Buyer’s Guide and Senior’s Guide!

Karen Daugerdas, Coldwell Banker REALTOR®, Pricing Strategy Advisor®, Seniors Real Estate Specialist, Short sale Foreclosure Resource®, Accredited Buyers Representative®.