Let’s be honest — the market has changed. One of the biggest challenges we’re seeing right now is pricing, especially when it comes to setting the right price for today’s conditions. Many home sellers are still thinking back to the wild days of 2021 and early 2022, when homes were selling in days (sometimes hours) and prices were climbing at record speed.
But that market doesn’t exist anymore. Depending on how you look at the numbers, home values are sitting roughly 18–25% below the peak we saw during that frenzy.
What’s Happened Since the Peak
The good news is that the market has largely stabilized since mid-2023. Prices aren’t dropping the way they did right after the peak, and most communities have settled into a more balanced rhythm. The pace is slower, buyers are more thoughtful, and while homes don’t sell overnight anymore, good listings are still moving when priced right.
However, if you purchased a home in the second half of 2021 or in 2022, you might find that selling today means accepting a lower price than what you paid. That’s not easy to hear — and as someone who owns real estate too, I understand how frustrating that feels. None of us want to see values dip below what we paid.
The Cost of Living Somewhere
But here’s the thing: living somewhere always costs money. Whether you’re renting or owning, you’re paying to have a roof over your head. Owning comes with mortgage payments, maintenance, property taxes, and insurance. Renting comes with monthly payments that build no equity at all.
If you bought during the peak, you’ve likely spent the last few years enjoying your home, building memories, and paying down your mortgage — all things that still have real value, even if your sale price isn’t higher today.
Why Time Still Matters
Before the 2020-2022 boom, it was common wisdom that you should plan to own a home for 5–10 years before selling if you wanted to build meaningful equity. That old rule of thumb is making a comeback. The ultra-fast equity gains we saw for a short stretch were never meant to be sustainable.
Real estate remains one of the most reliable long-term wealth builders — but it works best when you give it time.
Moving Forward
So yes, the market today looks different than it did a few years ago. But that’s not all bad. A more balanced market gives both buyers and sellers a fairer shot. It rewards realistic pricing, quality presentation, and good strategy — all things that experienced realtors (like us!) focus on every day.
If you’re thinking about selling and want an honest look at what your home is worth right now, reach out. We’ll walk you through the data, the trends, and what to expect — no sugarcoating, just real advice for today’s market.
