Rates Are Up and So Are Listings: Here's What It Means for Dayton Sellers

Holy cow! This morning there were 3,427 active listings on our Dayton area MLS. Remember a few years ago, when there were hardly any homes for sale and buyers were lining up for every one? We have nearly five times that many now. And get this: 529 of those listings dropped their price in just the past 7 days. That doesn't even count the homes that cut their price before that.

Folks, you have more competition. That's the bottom line.

Mortgage rates aren't helping either. They've gone up seven weeks in a row and are sitting at 7.40%, the highest since late 2023. A year ago they were closer to 6.3%. On a $300,000 loan, that's about $220 more a month for a buyer, and that's enough to take some folks out of the running.

Nationally it's the same story. More homes are for sale than at any time since 2019, and nearly one in five listings cut its price in September, the most for that month since 2018.

So what does that mean if you're thinking about selling?

Buyers are still out there, and the ones shopping right now are serious. They're also picky, because they have more choices than they've had in years. Homes that are priced right from the start still get plenty of attention. Homes that start too high usually sit for a while, then end up chasing the market down with price cuts. Nobody wants that.

I like to keep things simple and honest. I'll walk through your home with you, show you what's actually selling in your neighborhood right now, and help you land on a price that makes sense. Then I'll get to work marketing it, including Zillow Showcase, so your home stands out from the competition.

If you're curious what your home might sell for in Beavercreek, Centerville, Kettering, Huber Heights, Tipp City, Vandalia or Oakwood, give me a call. I'm always happy to talk, no pressure at all.

Alice Kompar, Dayton Dream Home™
eXp Realty
Alice@DaytonDreamHome.com
www.DaytonDreamHome.com