Hi Ideo, the inventory is high, so it is still a Buyer's market. That said, if you are moving to another home, it has been shown that you can actually offset any loss by buying low at the currently low interest rates.
The most important pieces in this market are:
-Price it right. The number one reason a house doesn't sell is price. If you are having no showings, it's overpriced. It's as simple as that.
-With the amount of inventory, you have to take the time and care to make sure you are putting the best product forward. Think of it as a retail store. You wouldn't put broken, dirty, unattractive products on your shelves. Nor would you hide them in the back. You have to declutter, make any necessary repairs, stage (can be as simple as rearranging what you already have) and take good photos. A good brochure wouldn't hurt either.
-Lastly, an aggressive launch or marketing push is essential. Broker's open luncheon, email blast, professionally-run open houses, etc. Remember, most Buyers use a Realtor, so if the top Brokers aren't made aware your house is new to the market, they're clients may not see it.
Hope this helps! If you would like to pick my brain further, please reach out.
Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty