Not long ago, the real estate world felt like a nonstop win for sellers. Homes were selling at lightning speed, and buyers were locked in bidding wars just to get a foot in the door.

But fast forward to today, and the landscape is changing. Some markets are still hot and competitive, while others are cooling off—offering buyers a little more breathing room. We’re officially in a split market. And knowing which side of that split you’re on can make or break your buying or selling strategy.

Buyer’s Market vs. Seller’s Market: A Quick Refresher

In a buyer’s market, there are more homes for sale than there are buyers looking to snag them. That means more choices, longer days on market, and—best of all for buyers—room to negotiate.

On the flip side, a seller’s market means low inventory and high demand. Homes move fast, often with multiple offers, and sellers can ask top dollar with confidence.

The Shift Toward Balance

For the last few years, sellers had the upper hand in nearly every corner of the country. But the tides are turning.

Zillow reports that the housing market is now leaning more neutral than it has in years. That means we’re seeing fewer bidding wars, slightly longer days on market, and more sellers open to price cuts or buyer concessions.

Put simply, the playing field is leveling out—and that’s great news for buyers who’ve been sitting on the sidelines.

Inventory: The Game Changer

So, what’s driving this shift? Inventory.

New data from Realtor.com shows that housing supply is rising in many parts of the U.S., especially in the South and West. In fact, some of those regions are nearly back to pre-pandemic inventory levels, which is why buyer-friendly conditions are showing up there first.

Meanwhile, the Midwest and Northeast are still grappling with low supply. Fewer homes mean sellers continue to hold the advantage in those areas—for now.

Why Local Matters More Than Ever

The national headlines don’t always tell the full story. Real estate is local, and your neighborhood could be a totally different market than the one two towns over.

That’s why working with a local real estate pro is essential. They’ll help you understand what’s happening right where you are and tailor a plan that fits whether you’re buying, selling, or just exploring your options.

Zillow says it best:

“Agents are experts on their local markets and can craft buying or selling strategies tailored to local market conditions.”

From pricing your home right to navigating negotiations and spotting hidden gems, a good agent makes all the difference.

The Takeaway

Thinking about making a move this year? The best first step is to get clarity on what’s happening in your local market. Let’s chat. I’ll help you break it all down and come up with a strategy that works—no matter what kind of market you’re stepping into.

Curious what kind of market we’re in right now? Drop your zip code and I’ll give you the scoop.