Homebuying Tips: Track the Housing Market

by Steve Robinson 03/11/2019

If you want to purchase your dream house at a great price, you should monitor the real estate sector closely. That way, you can identify housing market patterns and trends and map out your homebuying journey accordingly.

Now, let's take a look at three tips to help you track the housing market so you can speed up your home search.

1. Analyze the Prices of Recently Sold Houses

Take a look at the prices of recently sold houses in your preferred cities and towns. Then, you can use this housing market data to understand the average price range for houses in areas where you want to live.

As you review the prices of recently sold houses, you may want to narrow your homebuying criteria as well. With homebuying criteria in hand, you'll be better equipped than other buyers to seamlessly navigate the property buying journey.

2. Find Out How Quickly Houses Are Selling

Differentiating a buyer's market from a seller's market is key, particularly for a buyer who wants to achieve the best-possible results. If you find out how quickly residences are selling in your preferred cities and towns, you can distinguish a buyer's market from a seller's one.

In a buyer's market, there is an abundance of sellers and a shortage of buyers. This means buyers will find lots of outstanding houses at their disposal.

Comparatively, in a seller's market, there is an abundance of buyers and a shortage of sellers. If you're a buyer operating in a seller's market, you likely will need to bid competitively to acquire your ideal residence.

Once you determine whether you're preparing to enter a buyer's or seller's market, it generally is a good idea to plan ahead for the property buying journey as much as possible. If you know exactly what you want to find in your dream house and where you want to live, you can quickly and effortlessly discover your ideal residence in any housing market, at any time.

3. Assess Houses That Fall Within Your Price Range

Many houses are available in cities and towns nationwide, but it is important to determine exactly how much you can spend on a residence prior to entering the real estate market. If you establish a homebuying budget, you can review the prices of houses that fall within your price range. Perhaps most important, you can avoid the risk of spending too much to acquire your ideal house.

As you kick off a home search, you may want to collaborate with a real estate agent too. A real estate agent is happy to help you pursue houses in your preferred cities and towns and find one that matches your expectations. Plus, a real estate agent will help you submit an offer to purchase your dream home that hits the mark with a seller.

Ready to conduct a home search? Use the aforementioned tips, and you can perform an extensive analysis of the real estate market and boost the likelihood of a successful property buying experience.

About the Author

Author
Steve Robinson

Hi, I'm Steve Robinson and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.

Transitioning to selling real estate came naturally for me, having successfully invested in many of my own real estate deals over the past 35 years. I know how to find a property that is a good purchase, whether it’s for you personally or for investment purposes. I also have experience selling homes and getting the maximum value for them. I am a skilled communicator and negotiator, and I focus on getting the best deal for my clients. I also have a keen eye for what work needs to be done to a home and the cost involved as you seek to either stage your home or inspect a home that may need work. I am completely committed to serving my clients; going above and beyond what is expected to make sure you enjoy top-notch results.

My background? I raised three great kids and they are almost through college now. For twenty years, I taught history at an independent school, as I invested in real estate on the side. In addition, I coached three state champion mock trial teams, and honed my communication skills as a part of that work. I have a masters from the Fletcher School of Law & Diplomacy at Tufts University in diplomatic history, which helped me to understand the world and relate to people of all backgrounds and cultures. My hobbies include skiing, sailing, hiking and biking. I decided recently that as much as loved teaching, I wanted to finally commit to the world of real estate full-time. It’s in the family blood, since both of my brothers are professional real estate investors, and real estate is like breathing to me.

I look forward to serving you and helping you to find the best deal possible.