“How is the market up there in Door County” or “What is your market doing?” are frequently asked questions of Realtors.

If you are a buyer, your Realtor might simply answer that the market is great, that it’s a great time to buy.  Or they might say that as a buyer you have great opportunity because there are lots of properties on the market, interest rates are low and sellers are motivated. 

To the seller the answer may be that it’s a great time to sell because of the favorable interest rates for buyers.

Any of those answers are generalities, and usually the buyer or seller asking the question already has a preexisting belief and interprets the answer to the question to support that belief.

If you are motivated to sell, or buy, then you should learn about the reality of the market.  A good Realtor should be prepared to educate you on, the reality of the current market in their own area.  Your Realtor can provide MLS statistics that include average list prices, sale prices and length of time on market.  These can be valuable in helping you establish or justifying the price you will pay for a property or the price you will offer your property to the market at.   

The answer, “sellers are motivated”, may be interpreted by buyers that most properties are at fire-sale prices.  “Low interest rates and the incentives for buyers” may be interpreted by sellers as easy money for buyers.  We’ve seen offers fail for the lack of a counter from the seller because the buyer’s offer was just too low.  We’ve seen offers fail to come together because the seller perceived a higher value for their property than the buyers were willing to pay, or more importantly, than the reality of the market would bear.

The serious buyers and sellers who are counseled by a good Realtor see their deals go together and consummate with closing.  The buyers and sellers took their time to learn about the true market values from their Realtor and used their knowledge to move forward.

Sellers would of course always like to get more money, and buyers of course always want to pay less.  The important thing is to understand the market, understand the statistics and make the deal—because no one wins when there is no sale.

So, “How is the market”, or “What is the market doing”?  The reality is that the “market” is the price point at which sales are being made—closed.  The “market” is not over-priced properties—because those properties are simply for sale and on the sidelines.  The “market” is not listings under-valued by buyers—those buyers are on the sidelines.

Getting the deal and being a winner in the Door County real estate market means that your Realtor has taken the time to inform you on the “market conditions” at any given time.  If you are a seller, you price your property “to” the market.  If you are a buyer, make your offer “at” the market.  In a scenario such as this, both parties will have achieved their goals and can move forward with the next phase of their life.  Everyone else is not in the market; they are on the market and on the sidelines.

If you are looking to buy or sell, call me and let's get IN the market.