With historically low housing inventory this year, it is a wonderful time to consider selling your home. An old rule of thumb in real estate is to wait until the flowers start blooming to put a house on the market, but that’s not the case this year. If you list your home, there won’t be much competition, which could result in a quick sale at a desirable price. Due to the limited inventory, your home could potentially wind up in a bidding war. That could leave you with a much higher price than your initial asking price.
We are currently in a market with extremely low inventory levels, which means you don’t need to wait for the “best” time to sell your house. If you’re thinking about selling your home, go ahead and list it. In the current market, you can expect your home to sell fairly quickly for the asking price, possibly above, and you’re more likely to receive multiple offers. Since buyer demand is so high, we are seeing submitted offers that are all seller-friendly. This could include all cash, no contingencies, no appraisal, waived inspections, and a quick closing. And since interest rates are still low, if you were considering upgrading to a bigger home, a new location, or maybe just more accommodations, now would be the time.
The demand for homes is still high due to so many in the workforce adapting to new hybrid working schedules. These hybrid and fully-remote workers have sought larger home-office spaces, often by moving to bigger houses. Since inventory has remained low throughout the entire pandemic, there are still many first-time homebuyers who have lost out on bidding wars and are still patiently looking for their new homes.
Interested in learning more? Contact me today!