Are you thinking of selling your home and worried about the timing? Now is the perfect time to sell real estate! Here’s why:
Our market is currently a seller’s market. A seller’s market exists when buyer demand is higher than inventory available. Historically low rates have qualified buyers searching for homes. Lower rates, and thus lower payments, means buyers can qualify for more than they could previously. Lower payments make buyers more comfortable making those payments, so the demand to purchase property is high. Many buyers are entering the market for the first time, yet many others are seeking investments and second homes like never before.
What does this mean for potential sellers entering the market?
It means you can get top dollar for your home this fall! Housing inventory is down, as many sellers have put off listing during the pandemic. Buyer demand is driving home and land prices up. In our area, most homes are receiving 3-5 offers in record time.
If your home is priced and presented right, it will sell and often at or above list. That doesn’t mean homes will sell for any price you choose, it must still appraise for contract price. However, it does mean that your time on the market can be greatly reduced. The expectation is that this trend will continue through the end of the year as buyers seek to close by the end of the year. If you’d like tips on how we can help you sell during these trying times, you can read more here!