When selling your home yourself the most important thing is to understand the real estate market conditions.  Failure to do so could result in your home sitting on the market for months or losing thousands of dollars on the sale. 

Suppose that there were not very homes on the market for sale, and there was many homebuyers.  What would that do to the price of the homes?  That’s right, they would go up.  This is known as a seller’s market.  The opposite is true when there are more homes for sale than buyers, driving the price down.  This is referred to as a buyer’s market.

It is all about supply and demand. 

Your local market could be a market within a market so it is important to know what home sales are like in your area and possibly outside areas.  You need to also consider things such as interest rates, local economic factors, and new home sales.  To adequately analyze your current market when selling your home you will need to research homes that are currently up for sale, under contract, and recently sold.