Why To Sell Now

Today’s real estate market is anything but predictable. In fact, ‘wild’ is a better descriptor. Not nearly as wild as the real estate market during peak pandemic times, but still a bit confusing. Mortgage rates are high (compared to this time last year), as are median home prices. You might be wondering if it even makes sense to sell right now at all. We’re here to tell you why it is! 

Inventory 

Inventory is still at a low compared to demand. A ‘healthy’ or ‘neutral’ market is defined as a market that has roughly 6 months of inventory. Nationwide we’re looking at just a bit over 3 months of inventory which still puts the market squarely in the “Seller’s Market” category. Because inventory is low, this means your home will stand out as one of few. 

Offers

Because inventory is low, the homes that are on the market are getting more attention from buyers. They are competing over the limited inventory which means multiple offers and potentially even a bidding war. We aren’t quite at the highest levels where homes were averaging 6 offers, though they are still fetching more than three. 

Equity

One benefit to the current market is that most homeowners are finding themselves with quite a bit of equity. One fear people may have of selling right now is that they still have to have somewhere to live. If it’s so difficult to buy, what does that mean for your next step? That’s where equity can make a world of difference. You can use the potential cash flow to move to a more desirable neighborhood, to afford a larger down payment, or to leverage a strong offer on your next house. 

The right time to sell is the right time to sell. Talk to us today if you’re ready to make your next move!