Seller’s Market (5.5 months or less) – Fewer homes, more buyers. You can push toward the higher end of fair market value. Balanced Market (5.6–6.5 m et (5.6–6.5 months) – Everyone’s got options. Be strategic and flexible. Buyer’s Market (6.6+ months) – Too many homes, not enough buyers. Price sharp, expect negotiations, and get cozy with patience. Knowing your market type means knowing how fast you need to move, how hard you can push, and when to fold ’em. Not All Sales Are Created Equal (and Some Comps Are Just Trash) Here’s the deal: some “comparables” should be laughed right off the CMA. Why? Because they distort your home’s true value and set you up to chase offers that never come.
Let’s break down what doesn’t count:
Bank-Owned (REO) P d (REO) Properties – These are foreclosure leftovers, sold for speed, not value. They sell for 5–10% less. Don’t even go there. Short Sales – Buyers hate the drama, lenders hate approving them, and they drag on forever. Not reflective of true market demand. FSBOs (For Sale By Owner) – Usually underpriced because they skip marketing and negotiation. Just because it sold low doesn’t mean it was worth less. Homes in Rough Shape – A beat-up house with bad paint and broken fixtures isn’t a comp for your freshly updated stunner.
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