Whether you are selling to move up to a nicer home, different neighborhood, or downsizing because your last child has gone off to college, now might be the best time to sell.
According to a recent Redfin Research Center article, 52% of potential sellers surveyed think now is the right time. Sellers believe they now have the advantage over Buyers by a margin of nearly 2 to 1.
This may be in part to the results of recent research that shows the home sales fell by 11% in the last year. This can be attributed to the third consecutive monthly drop of 6% in new listings. There simply are not enough homes available for sale.
If the majority of sellers think now is a great time to sell, why are there not enough homes available? There seems to be a bit of worry about where to go next. “If I sell my home, will I be able to find an adequate replacement?” Although this is a real concern, the percentage of people stating this as a concern has dropped as well.
Ready to Sell?
If you do decide to list your home, make sure you price it right. Pricing your home in the middle of comps will ensure you reach the most potential buyers and afford yourself the opportunity to sell your home in a timely fashion.
If you would like to sell your home, please contact me. I’d be happy to sit down and discuss a marketing plan with you.
Sources: “Most Home Sellers Think it is a Good Time to Sell,” Redfin Research Center (July 28, 2016)
“It’s a Good Time to Sell, Americans Say,” Realtor.Mag Daily Real Estate News (August 02, 2016)
“Redfin: US Home Sales Fell 11 Percent in July, but Don’t Panic” Inman (August 19, 2016)