Here Are 5 Reasons to Sell Your Home This Spring
When it comes to selling a home, most people hope for a fast and profitable sale that puts them in a position to make a good decision. The market is calling your name this spring if you're looking for the best time to win as a seller. Here are five reasons why, if you're ready, now is the best time to sell your home.
1. There’s high demand from buyers.
Right now, buyer demand is high, and consumers are active in the market. Buyer showings are up 51.5 percent compared to this period last year, according to ShowingTime, which tracks the average number of buyer showings on residential properties.
You're in the best place as a seller when your home is positioned to attract a lot of interest from competitive buyers.
2. There aren't enough houses available for purchase.
The market is running out of available homes for sale due to high buyer demand. According to a recent report from realtor.com:
“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”
The National Association of Realtors (NAR) also reports that, while home sales are on the rise, the inventory of existing homes for sale is steadily declining. Houses are selling almost as quickly as they are being listed – the average home is on the market for just 21 days, according to the National Association of Realtors.
The advantage that sellers have is due to the imbalance between high buyer demand and a limited supply of homes for sale. When demand is high and supply is low, a seller will always negotiate the best deal. That's exactly what's going on in the real estate market right now.
3. In today's market, you have a lot of leverage.
This spring, clearly, many more people want to buy than sell, resulting in the ultimate seller's market. Homeowners who are in a position to sell have the upper hand in talks when this occurs.
Agents are reporting an average of 3.7 offers per home and an increase in bidding wars, according to the National Association of Realtors. As a seller, this puts the ball in your court, allowing you to leverage your position to get the best deal possible. Demand is strong, and now is the best time to sell for the best price.
4.It's a fantastic way to put your home equity to work.
According to the most recent CoreLogic data, the average homeowner earned $17,000 in equity over the previous year as of the third quarter of 2020, and that number continues to rise as home values grow. Equity is a type of forced savings that accumulates over the course of your homeownership and can be used to fund larger goals such as the purchase of your next dream home.
5. It's an opportunity to find a home that suits your needs.
Over the last year, a lot has changed, including what many of us need in our homes. Many of us are re-evaluating homeownership and what we value most in a home as a result of spending more time where we currently live.
Selling this spring gives you the opportunity to make a move and find the home of your dreams, whether it's a house with features suited to working remotely, space for virtual or hybrid education, a home gym or theater, or something else.
The sellers have the upper hand in today's housing market. If you've been thinking about making a move but have been waiting for the right market conditions, your wait may be coming to an end. Let's connect so you'll be in the perfect position to sell your home this spring.