As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.
In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.
According to George Ratiu, Manager of Economic Research at realtor.com: "The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter."
If you’re thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season and early in 2022, this will be the best time to make sure your house is available for buyers. Here’s why.
When the supply of homes for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms.
Listing your home over the next few months, will give you the best chance of getting the price you want, while inventory is low and buyer demand is high. Here is a case and point. I listed a home this weekend and did an open house last Sunday. I had over 120 buyers attended the open house (mind you, this time of year is normally extremely quiet). It’s now Monday morning…I have multiple offers and most important, my sellers are in the drivers seat regarding price, rent-back, contract terms, etc. Call us, if you want to discuss how you can benefit from today’s sellers’ market AND be able to buy your dream house.