The amount of properties for sale in today’s housing market is far less than the high buyer demand. As a result, ready-to-sell homeowners have a major edge. Here are three reasons that today’s low inventory will help you sell your home this season.
Higher Prices
Homebuyers are regularly involved in bidding wars for the properties they wish to buy since there are so many more buyers in the market than homes available for sale.
Increased Return on Investment
Property values are increasing as a result of rising prices, which means you have more equity in your home. CoreLogic reveals in its newest Homeowner Equity Insights Report:
“In the second quarter of 2021, the average homeowner gained approximately $51,500 in equity during the past year.”
This year-over-year increase in equity provides you the option of selling your property and putting the proceeds toward a down payment on your future home or conserving it for a rainy day.
Terms that are better
If you make a move in a sellers’ market like the one we have now, you’re in control. You have the authority to sell on your terms, and buyers will be more willing to work with you if it means getting their dream house.
Is the low housing inventory a major concern?
When there are fewer homes on the market, there is less competition for your home and more interest from buyers. Buyers in the fall and winter months are more motivated because they are either relocating, downsizing, or simply don’t want to compete with the larger number of spring home buyers, so they’ve decided to look for a home now. That said, it is critical to optimize your options.
If you want to take advantage of the present sellers’ market, talk to a local real estate agent immediately to see what your options are. Reach out to your friendly and professional real estate agents at Trusted Property Advisors. Call us at 917-979-6666 today.
