The Market Has Shifted. Here's What That Means.
For the last few years, sellers had almost all the leverage. Low inventory, high demand, multiple offers the first weekend. Buyers were waiving inspections, skipping contingencies, and still losing out.
That dynamic has changed.
Inventory is building. Days on market are longer. Price reductions are climbing. And homes that aren't priced and presented well simply aren't selling — not because the market is broken, but because buyers have options again and they know it.
Here in Salida, the last 30 days tell a pretty clear story: 262 homes for sale, 94 average days on market, and price reductions up 50% from the previous month. Of the 44 homes that came to market, only 25 sold. That's a sold-to-listed ratio that tells you the market has real selectivity right now.
This isn't a crash. But it's a shift — and shifts require a different approach.
What's Happening Nationally
One of the biggest factors keeping the market from fully loosening up is what economists call the "lock-in effect."
Millions of homeowners refinanced or purchased homes when mortgage rates were at historic lows — some as low as 2.5% or 3%. Selling now means giving up that rate and taking on a new mortgage at today's rates. For a lot of people, that math just doesn't work, so they're staying put.
That's keeping some inventory off the market nationally — which means even in a slower market, truly well-priced and well-presented homes still get attention.
At the same time, a lot of buyers are sitting on the sidelines waiting for rates to drop before they make a move. It's a understandable strategy, but it has a real cost. Because right now — while others are waiting — the buyers who are active have leverage they haven't had in years. More negotiating room. More time to think. Less competition. That combination is genuinely rare.
What This Means If You're a Seller
Pricing strategically from day one has never mattered more.
The days of listing high and waiting for the market to catch up are largely behind us — at least for now. Buyers are informed. They're comparing your home to everything else available, and if your price doesn't reflect the current reality, they'll simply move on.
That doesn't mean you can't get a strong price. It means you need to come in with a thoughtful strategy, a well-prepared home, and a clear understanding of what the market will actually support.
The sellers who are winning right now are the ones who prepare early, price with intention, and present their homes in a way that makes buyers feel like the decision is easy.
What This Means If You're a Buyer
This is actually a really interesting time to buy — if you're prepared.
You have breathing room that spring buyers didn't. You have negotiating power that buyers two years ago could only dream about. And with price reductions up across the board, there are opportunities to get into homes that were previously out of reach.
The key is not waiting for the "perfect" moment. Rates may come down — or they may not. What I know for certain is that the buyers who act when they're financially ready and emotionally clear almost always make better decisions than the ones who time the market and end up sitting out entirely.
