If
you find yourself sitting on the sidelines trying to decide whether to sell
your home, let me show you 3 reasons why now is the right time to
sell.
1. Low
Inventory - High Demand - Sellers in today's market are a
rarity. With historically low inventory of single-family homes on the
market versus high demand from buyer for those properties, sellers are in the
best position to reap the benefits of today's housing market.
The National Association of Realtors (NAR):
“Total housing inventory at the end of March amounted to 1.07
million units, up 3.9% from February’s inventory . . . Unsold inventory
sits at a 2.1-month supply at the current sales pace, marginally up
from February’s 2.0-month supply and down from the 3.3-month supply recorded in
March 2020.”
2. Frequent
bidding wars - Sellers have the opportunity, in the face of
limited inventory, to enter bidding between buyers for their property.
The upside of this is obvious - homes sell for more.
The NAR reported that the average number of bids received on the most recently closed sales was 4.8 offers. This number has doubled since the first quarter of 2020.
3. Days on Market (DOM) - Sellers no longer have to wait long periods while eager buyers survey the housing terrain. Homes are moving in record time, depending on locale. 83% of homes in March 2021 were on the market less than a month according to the NAR.
Remember, when you sell; you have to buy. Look for a new home that falls within the range of profit you made on your sale. Sometimes, downsizing has its benefits.
No comments:
Post a Comment