What The Changing Market in 2026 Means For Home Sellers In Virginia
Having been in the industry since 1991, I’ve seen a lot of different market conditions. I feel like post Covid years to now take the win for the most unprecedented years. Since late 2023, things have been shifting. I feel like we’ve been in somewhat of a recovery phase from the heighted frenzied seller’s market where we saw homes sell within hours with multiple offers in many cases well over asking price. Those were great times for sellers and obviously super challenging for buyers. The obstacle we face as Realtors now is helping sellers understand and accept we’re no longer in that market.
Pricing Strategies based on expert forecasts
The days are gone when you can throw any home on the market at any price and expect it to sell. In today’s market, it takes more. As I type this the average days on market in our area is 78 and the average list to sales price ratio is 96.1% This is vastly different from the post covid days where we saw average time on market in many cases less than a week with an average list to sales price ratio well above 100%.There are really three positions on price for sellers:
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Pricing above the market and other homes for sale
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Pricing right at the same as the market and other homes for sale
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Pricing more competitively than the market and the competing homes
A seller must decide where they want to list and spend their time. Based on my experience in selling homes, the first 30 days a home is on the market is when it gets the most interest and activity. After that no matter what advertising is done to promote the home, the harder it is to sell. All buyers flock toward new listings and ask the same question when a home sits on the market. In fact, as I’m typing this I just had an agent ask me why I feel one of our listings has been on the market so long and not sold. And, inevitably it’s the price. The seller has to sell but owes a certain amount and cannot bring money to the table to sell it, it’s priced above the market and others and therefore continues to sit.
If sellers can stomach it and are able then it’s best to price as competitively as possible from the very beginning. It’s completely in the seller’s court as to whether they accept an offer when presented. I always tell our sellers I’d rather see them turn down offers by being priced right rather than never getting one by being priced too high.
When To List in 2026
Many sellers are asking when is the best time to list their home. Initially most think the spring time is the perfect time. And let’s all agree that homes look great with nice green grass, fresh mulch, blooming flowers and sunny warm weather with longer days to view them. The caveat is this is what everyone does and therefore the market tends to become inundated with inventory during the spring season.
It’s simple logic that if you want to get the most money in the least amount of time then it’s better to be one of fewer for buyers to choose from rather than one of many. We are telling all our sellers to get a jump start on the spring market and list as soon as you can. Obviously in some markets winter poses somewhat of an issue. In fact, we are currently snowed in for the 5th day from the snow, sleet, and ice that plummeted our area last weekend. However, snow melts and life goes on and homes sell! We’ve sold 9 homes this year despite it being January. The point is, homes sell all year and less is more for sellers competition wise earlier in the year.
Preparing A Home To Stand Out In Changing Conditions
So the question is how do you prepare your home to stand out and cause buyers to choose your home vs the competition?
We all know there are three main factors that sell a home and those are price, condition, and location. Obviously we only have control over the first two therefore it’s imperative you do what you can as a seller to make both as attractive to potential home buyers as possible. We talked about price, now let’s talk about condition.
Look At Your Home Through The Eyes Of A Buyer
If you can take a few minutes to tour your home as if you were a buyer, it will help. Start outside look at the curb appeal, the front, the back, the yard, the decks and porches before you ever step inside the house. What do you see? If you see any chipping or peeling paint, scrape and paint it. If you see mildew, mold, debris clean it up. If you see decks and porches that aren’t structurally sound, fix it.
Now walk through the inside of your house and view it through the eyes of the buyer. There are tons of things available online to help prepare your home for selling. Do all the things you can easily and affordably do. The better you can have the home show the more likely the buyers will choose it. Declutter, clean up, paint, clean carpets, remove dated throw rugs, curtains, update light fixtures, replace bulbs, replace air filters. Get your home ready for buyers to see it! It’s not rocket science but it takes something! When you list your home yes it’s your Realtor’s job to sell it but you’re in this with them and it’s a team effort. It helps when you do your part as the seller.
Home Inspections Are Back
Yes, the days of buyers removing home inspection contingencies to win the house are disappearing or have already disappeared really. We are now seeing home inspection contingencies on most contracts. As a seller if you are aware of anything not safe, operating, structurally sound, free and clear of leaks and/or hazardous materials it’s best you go ahead and fix it ahead of time. Once under contract you now have the homebuyer, their agent, the inspector, and contractors involved. We all know humanity loves to make mountains out of molehills and that’s the last thing a seller wants to face. Do the right thing and get your home appropriately ready to sell and it’ll be less headache and likely less expense for you in the end.
As a seller it’s important to understand and accept the market shift in order to get your home sold and not have it just sit month after month.
