A couple in their early 40s who own a small tech firm are determined to finally sell their 5,000-square-foot colonial-style house in favor of a place twice the size in the same swank neighborhood.

“The new house is the lure. It has a swimming pool, tennis courts and two full acres of land. That compares with the postage-stamp lot where they now live. The couple, who have two elementary-school-age boys, wants an ideal place where the kids can host playdates and parties for their friends,” says Lauren Davis, the Sotheby’s agent handling the couple’s transactions.

Davis is amazed by the recent upsurge in home listings in her suburban area as well as across the nation. She’s especially surprised by the number of owners willing to sell during the typically slow hot summer months rather than waiting until fall.

Indeed, the number of U.S. properties now actively on the market has increased by more than 36% in the last twelve months, according to Danielle Hale, chief economist for Realtor.com, the home listing company.

She estimates that American homeowners are sitting on a record $17 trillion in equity. An increasing number are tempted to sell their present property to climb to a higher rung of the property ladder.

The couple selling a colonial house for a trade-up move are fortunate to live in a community where inventory remains in short supply. They’re confident that their present house will sell quickly for at least the full asking price. But not every neighborhood is so strong for sellers. That means some would-be sellers are waiting for mortgage rates to fall before attempting a trade-up move.

Obviously, no economist or real estate analyst can perfectly predict the direction of your local housing market. That leaves it to households to decide their own course.

Here are a few pointers for potential trade-up sellers:

-- Reconsider your reasons for selling.

Anxiety can prevent people from moving ahead, even when it’s against their interest. But those convinced that now is a good time to buy a bigger home shouldn’t let unwarranted fears constrain them, says Michael Crowley, a real estate broker and past president of the National Association of Exclusive Buyer Agents (naeba.org).

He says one way to put your fears about real estate in perspective is to reexamine your original reasons for moving to a better house. Has your family outgrown its small space, meaning that your kids must share bedrooms? Are your plans for a home-based business on hold?

“It’s worth remembering that life is short and delaying your sale may not yield the financial advantages you expect,” Crowley says.

-- Review statistics on demand for homes in your area.

In many areas, inventories of unsold homes are still very tight or shrinking, making multiple bids commonplace. But in other neighborhoods, the inventory balance is gradually getting better for those seeking to move up. And in still other areas, the picture is mixed. It all depends on your target market

Suppose, for instance, that you’re selling a property in a starter-home community in great demand by millennials trying to break into homeownership. Meanwhile, you’re intending to buy in a luxury-home neighborhood where there’s an ample supply of properties and buyers don’t outnumber sellers. In that case, you could do well on your dual transactions.

“Starter-home buyers are still having a crazy time trying to burst into ownership,” Crowley says.

If you live in an area with many available housing options, you can afford to take somewhat more time to make your selection and seal your trade-up deals. But Davis cautions against waiting indefinitely to buy in any area that remains red-hot.

-- Locate an experienced mortgage lender to help assess your plans.

Not sure whether you want to go forward with a trade-up move? Worried that the numbers or your credit history could scotch your chances for better housing?

If so, Eric Tyson, author of “Personal Finance for Dummies,” recommends you visit the office of a mortgage lender who can analyze your personal situation and determine whether you’d be eligible to buy that bigger house you have in mind.

Even if you’re confident you can qualify for a mortgage on a bigger home, it’s good to gain preapproval to enhance your chances of acquiring your dream house.

As always, lenders want certainty that any mortgage they originate will be solid. This means you’ll need to be prepared to answer the lender’s request for documents.

“Don’t assume that lenders are less stringent than they were in the immediate aftermath of the Great Recession of 2008. That’s why it’s good to have an expert look at your financial documents before committing to a sale and trade-up move,” Tyson says.

As proof of income, many mortgage lenders currently insist on much more documentation than the customary pay stubs and W-2s. They may also require federal tax returns. Also, most lenders now want proof that the funds you’ve amassed for your down payment have been in your savings or checking accounts for some time and weren’t just borrowed last week from a family member.

“In all likelihood, moving up to more luxurious quarters means proving you have the assets and earning power to handle your monthly mortgage payments,” Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A cardiologist in his early 30s has waited for more than five years for the right time to exit his rented city apartment. He dreams of buying a suburban house with a big, professional-level kitchen where he could pursue his passion for Italian cooking.

But to date the timing has never seemed right to get a fair deal on the sort of spacious house he has in mind.

“During COVID, prices were ridiculous, and there were very few properties for sale. Buyers lined up around the block. I’m no fool, and I wasn’t going to compete with those crazed buyers with all their bidding wars,” the cardiologist says.

But in recent weeks more neighborhood markets have been cooling somewhat, giving a small degree of hope to determined homebuyers like the doctor. The statistics that give them the most hope involve the recent major increase in available inventory and the reduction in the number of home shoppers.

“The market is at an interesting point, with rising inventory and lower demand,” says Lawrence Yun, chief economist for the National Association of Realtors (nar.realtor).

Indeed, the number of available properties has grown by more than 36% within the last year. This is despite many current homeowners continuing to cling to low-rate mortgages they acquired through refinancing during the pandemic.

Will more supply of available properties temper home prices for prospective purchasers?

That depends on where you live and the level of inventory in your neck of the woods, according to real estate specialists.

Andy Walden, a vice president for Ice Mortgage Technology, a firm serving the home loan industry, anticipates slightly lower home prices in “pandemic boomtowns,” including those in Florida where inventory growth has been especially rapid. But he doesn’t foresee major price drops in most parts of the country.

That view is shared by Shaun Donovan, a former secretary of the U.S. Department of Housing and Urban Development, who notes that overall housing demand still greatly outstrips supply throughout the nation. He says that’s created a housing affordability crisis, particularly for would-be entry level purchasers.

Still, impatient wannabe homeowners, like the cardiologist seeking a house with a big kitchen, are refusing to wait on the sidelines any longer to make their first purchase.

“To heck with all the prognostications about price levels. I just want one great house, and I’m tired of putting my plans on hold. All I’m asking for is a fair deal, and I’m ready to go,” he says.

Here are a few pointers for buyers:

-- Consider listings that have been sitting unsold for a lengthy period.

Stale listings, which have been on a market longer than the average for the neighborhood “can be a treasure trove of good values,” says Stephen Carpenter-Israel, the president of a real estate firm affiliated with the National Association of Exclusive Buyer Agents (naeba.org).

As Carpenter-Israel says, the surprising reality is that there are stale listings in even the most popular neighborhoods -- because some sellers overprice their listings.

But he cautions that selling times can vary widely depending on the popularity of a community and the local economy.

“Look at each home individually and find out its listing history. It may be the home was listed with a different agent before and then later relisted with a new agent. Because of that, you may need to dig to determine how long it’s really been up for sale,” he says.

Sid Davis, a real estate broker and the author of “A Survival Guide for Buying a Home,” says that even after a series of price reductions, an initially overpriced home typically retains its stigma, which continues to drive away potential buyers.

“People get suspicious of the house that sits around. They wonder if there’s something seriously wrong with it,” Davis says.

Attentive buyers realize that among shopworn properties there can be prime bargaining opportunities -- even in an area where inventory levels are tight. This is especially likely if the owners are under pressure to move.

-- Educate yourself on values in your target community.

To navigate any market skillfully, you need to inform yourself about property values in the area where you’re searching.

Very often, the owners of a stale property will ratchet down the price in incremental drops. The key for a prospective bidder is to know when the sellers are approaching a realistic price point.

“You and your agent need to do a thorough analysis of the area so you’ll have a good feel for the true value of any house you like,” Davis says.

The key to determining market value is to closely examine the data on recently closed home sales of similar properties -- known as “comparables.”

“Make sure your agent shows you very recent comps that are really similar to the house you want to buy,” Davis says.

“When deciding how much to bid on a stale listing, don’t focus on the list price. Instead, orient your offer to what the market is really paying for that kind of a house in that neighborhood,” Davis says.

-- Make sure you’re alerted when price drops occur.

Have you found a home that’s appealing but believe it’s significantly overpriced?

If so, Carpenter-Israel suggests you track that property closely, waiting for its owners to take a price cut that brings it closer to its true market value.

To stay alert to potential pricing changes for the property of your choice, Carpenter-Israel recommends you ask your real estate agent to keep you constantly updated by email or text.

“Ideally, you should be kept informed on a daily basis,” Carpenter-Israel says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Karen Kuchins’ career selling homes long predated the pandemic. But never before has she witnessed such rapid change in market conditions. Many homes that were flying off the market during the worst of COVID-19 -- when available properties were exceptionally scarce -- are now sitting unsold for a longer period.

“For sellers, the pandemic was a bonanza -- a free-for-all. What’s happened now is a much more balanced market, with properties taking longer to go under contract,” Kuchins says.

Stacy Berman, another longtime agent, cautions sellers against arrogance about their current prospects. She also warns them not to overprice their property by pegging their list price to what their home would have fetched during the heady pandemic period.

“When picking a price, don’t look at closed comparable sales from months or years ago. Instead, look at pending sales if you can figure out what nearby houses actually sold for very recently. Often, your listing agent can help you gain this info,” Berman says.

Not only is available inventory rising, but more properties are languishing unsold for a longer-than-expected number of days -- a disheartening trend for sellers.

“More homes are becoming stale, sitting on the market for 30 days or longer without going under contract. Most buyers are willing to pay sky-high housing costs but only if the house is in really good shape,” says Desiree Bourgeois, a Redfin agent in Ann Arbor, Michigan.

Bourgeois says that homeowners whose property appears dated run the risk of an overly long selling time or lowball offers from prospective buyers.

“They don’t want to spend extra money on paint or new appliances,” she says.

Here are a few pointers for sellers:

-- Stay focused on your ultimate lifestyle goals for after your sale.

Many of those currently attempting a property sale are dreaming of a delightful retirement. While some wish to travel, others have a less expensive vision. They simply seek to downsize to a much smaller house or a condo where they have fewer upkeep obligations. Others want to live closer to their grandchildren.

“Lots of retirees want to escape to a better climate,” says Sid Davis, a Utah real estate broker and author of “Adding Value to Your Home.”

Staying focused on retirement plans should help keep your spirits up as you do the hard work of preparing your property for market. To maintain your focus, Davis says you may wish to take a brief vacation to the area where you’d like to live -- whether that’s a foreign country or a nearby town. A less costly approach is to attach a photo of your ideal destination to your table or laptop where you can keep it in mind.

-- Visit brand-new property in your locale.

Have you lived in your current home for many years? If so, you’re likely very comfortable with your interior design and see no need to update it. But that’s usually a mistake, says Donna Clark, a residential real estate agent based in Reno, Nevada.

One way to picture the sort of decor contemporary buyers prefer is to tour model homes in new subdivisions.

“This is a shortcut to seeing the kinds of colors and designs younger buyers look for. You’ll also see how well a house can look when it’s free of clutter, such as stacks of mail and magazines,” Clark says.

-- Make a list of improvements that could help you sell well.

Homeowners who are eager to sell should view key improvements as a wise investment rather than a needless sacrifice.

“A house is like a business. Sometimes you have to put some money into it to get more money out of it,” Clark says.

Obviously, you’re unlikely to recoup your outlays for major improvements like putting on an addition or installing a new fireplace. But Clark says several less-expensive upgrades could be extremely helpful in promoting the sale of your home.

For instance, she says you’ll want to refinish hardwood floors if they’re beat up. And you’ll want to replace carpeting in an out-of-date color.

“I had some clients with bright teal carpeting in their living room. It was clean and perfectly serviceable. But buyers who looked at the house couldn’t get past all that teal. After the owners replaced it with light taupe carpeting, their house sold right away,” Clark says.

Likewise, she says most sellers with vibrantly colored walls are well advised to repaint them in neutral tones.

“Pink walls don’t belong in any house you’re trying to sell. Nor do walls in deep red, vivid green or periwinkle blue,” Clark says.

-- Avoid playing pricing games.

Many would-be sellers intent on moving reject the pricing recommendation of their listing agent. In pursuit of more money, they decide to “test the market” with a higher price than their agent has proposed. After all, they reason, they could always cut the price later if necessary.

But this seemingly logical idea usually backfires, Clark says, because most buyers are acutely sensitive to housing values. They respond negatively to an overpriced property and may become so annoyed they won’t even visit the place.

“The first two weeks after you list your house are key. If you don’t price it right from the start, possible buyers will lose interest. Then even after you drop the price you may have to wait a long, long time to get it sold,” she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)