The days of 2019–2022 when homes often sold within days, multiple offers were common, and sellers could practically name their price are behind us. Today’s market exists somewhere in between, and buyers and sellers are still trying to figure out where they meet.

Sellers: This Market Is Different.

We still see beautiful, move-in-ready homes sell quickly and sometimes receive multiple offers. But most houses don’t look like they just came off one of those TV home shows and today’s buyers are being selective.

They’re paying close attention to:

• Price
• Condition + needed repairs
• Monthly payment
• How your home compares to everything else available (this last one is HUGE)

Your home is worth what a buyer is willing to pay for it in today’s market.

A Zestimate, tax assessment, or what your neighbor sold for two years ago can be useful information, but none of those determines what your home will sell for today.

For some homeowners who purchased recently or near the peak, the numbers may simply not work yet.

Sometimes my most honest advice may actually be: Don’t sell right now. But, it's really case-by-case.

Buyers have regained some negotiating power, but buying a home certainly hasn’t become easy.

Consider a $400,000 home:

• 10% down = $40,000
• Then add closing costs and prepaid expenses
• Mortgage rates are still hovering in the mid-6% range
• And $400,000 doesn’t buy nearly what it used to around here

That combination has pushed plenty of would-be buyers to the sidelines. And that's where we have a stand-off.

Buyers want:

• A move-in-ready home
• The lowest reasonable price
• Repairs or concessions
• An affordable monthly payment

Sellers want:

• Maximum equity
• Minimal repairs
• Few concessions
• The highest possible price

Neither side is wrong. They’re just REALLY far apart right now.

I’m seeing this play out in real time. I recently worked with a buyer who had a firm budget and had even offered over asking on more than one home. But as prices and interest rates changed, the homes that met her needs were often listed well above what she could comfortably pay.

From the buyer’s perspective, a lower offer felt reasonable in a changing market. From the seller’s perspective, accepting less could mean losing equity or not having enough money to make their next move.

Neither side was being unreasonable. The numbers simply weren’t meeting in the middle.

So instead of continuing to look at homes and write offers that were unlikely to be accepted, we changed the strategy. The better approach was for me to first identify and vet homes where the seller’s circumstances, time on the market, condition, and pricing might create a genuine opportunity.

That kind of strategy matters in this market. And honestly, that's where my team and I come in. Our job isn’t simply to put a house on the MLS or open doors for a buyer.

It’s to understand what both sides need and determine whether there is common ground.

Sometimes that means:

• Getting creative with seller concessions
• Negotiating repairs instead of price
• Using a rate buy-down to make the payment work
• Helping a seller decide which improvements are actually worth doing
• Structuring terms that make sense for both sides
• Knowing when to push, and when not to

A successful transaction happens when we can get a buyer to say, “This makes sense for me,” while still getting the seller to say, “This works for me, too.” That’s the bridge we work hard to build. This isn't the market we experienced a few months ago.

Sellers no longer hold all the cards the way they often did from 2019 through 2022. But buyers don’t have unlimited leverage, either.

What we are seeing is a market where pricing, presentation, patience, strategy, and negotiation matter again. A lot!

So, What Should You Do?

If you’re selling:  Before putting a sign in the yard, find out what your home is realistically likely to sell for, and whether that number actually makes your next move possible.

If you’re buying:  There are opportunities out there. Just remember that negotiating isn’t only about price. Closing costs, repairs, rate buy-downs, and other terms can sometimes be worth more than a lower purchase price.

Most importantly: Real estate is local.

What’s happening nationally isn’t necessarily what’s happening in Tacoma, University Place, Gig Harbor or even from one neighborhood to the next. If you’re thinking about buying or selling, let’s talk about the market we’re actually in, not the one we had a few years ago.

No hype. No doom and gloom. Just an honest look at the numbers and whether making a move makes sense for you.

All real estate is local, and representation matters. Choose wisely.

STACEY GENDREAU | REALTOR®
Local insight. Thoughtful guidance. Real estate made personal.

📞 (253) 533-0210 | ✉️ pnwstacey@windermere.com

RM Home Specialists | Windermere West Campus
Tacoma • Lakewood • University Place • Gig Harbor • Pierce County