As 2022 brought rising mortgage rates and rapid inflation, the market began to cool somewhat. Now, 2023 appears to be a year of stability in the real estate market. Dr. Lawrence Yun, chief economist and senior vice president of research for the National Association of REALTORS®, predicts that median home prices will remain steady, and that mortgage rates will stabilize around 5.7%.

Prepare your home to sell in 2023

According to Debbie Pawlowicz, president of the Mainstreet Organization of REALTORS® Board of Directors, "Buyers can be a bit more selective [in 2023], and the homes that are in great shape – those that are well cared for, priced correctly or updated thoughtfully – are still going very quickly."

A Mainstreet REALTOR® can help you prepare your home to sell based on current conditions and the local market. This will include: 

• Staging. Mainstreet REALTORS® work closely with home stagers, and your REALTOR® can recommend a stager who is a good fit for your home. A home stager will bring in furniture and decor to highlight your home’s best features and help potential buyers visualize living there.
  
  

• Digital marketing. These days, there are all sorts of ways to make your home stand out to buyers before they ever set foot in it.If it’s a fit for your property, your Mainstreet REALTOR® can help you showcase your home to those searching online through a virtual tour or virtual staging. Your REALTOR® will also know what amenities to feature in online descriptions of your home in order to catch potential buyers’ interest.
  
  

• Pricing. Price your home too low, and you’re leaving money on the table. Price your home too high, and it could take months to find a buyer. Don’t guess at what your home is worth. Work with a Mainstreet REALTOR® who can advise you based on what they are currently seeing in the market. A properly-priced home can find its ideal buyer quickly, and help you land the best deal possible. 

Depending on your neighborhood, home, and other factors, these will be just a few of the things you need to consider as you sell your home in this confusing, ever-changing market. By hiring a Mainstreet REALTOR® who is an expert in your local area, you'll gain access to further insights into how to navigate the market specific to your neighborhood and property.

Selling Your Home: Do This First

Selling your home and preparing to move can be overwhelming. Here’s where to start to keep things under control.