When a reliable real estate monitor like HousingWire.com proclaims a turn toward “more normal market conditions,” you’d think that simplifies the task of determining rational asking prices for homes in St. Cloud. Last week’s headline (“The savagely unhealthy housing market is over”) implied as much: a U.S. market heading for a more predictable course for real estate’s fast-approaching active season.

HousingWire’s optimism was based on an increase in January’s national average Days on Market, which exceeded 30 days for the first time in a good while. The National Association of Realtors^® pegged the national average at 33 days. That was a little less than a week’s increase over the previous month’s average, marking a noteworthy increase from the 19-day average chalked up in January 2022.

If last year’s ‘savagely unhealthy’ and volatile seller’s market conditions do in fact become more healthy (and civilized?), homeowners and their agents could be expected to place increasing confidence in the factors that have traditionally provided the bases for on-target asking prices:

·         Comparable research;

·         Subject property’s unique features;

·         Current St. Cloud market activity; and, sometimes,

·         Professional appraisals.

Then, following the market’s reception, the equally important factor should an adjustment be needed:

·         Being realistic.

Everyone wants to get the highest possible price for their St. Cloud home, but that can include the willingness to recognize real market feedback—the ultimate, no-guesswork research. Call me anytime to discuss the latest local activity; and what’s to come!

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