How Do You Know When To Sell Your House?

If you’re thinking about selling your house and find yourself wondering, “When’s the right time? Should I sell now or should I wait?” If this sounds familiar, then this article is for you!

Even though more homes have been hitting the market this year, there still aren’t enough to keep up with all of the buyers out there. Simply put, it’s still a seller’s market.

What is a ‘Seller’s Market’? Well, let’s take a look at that, but first let’s look at the other types of markets to get a better understanding. 

Neutral Market

• When it's a neutral market, things are pretty balanced. There are enough homes available for the number of buyers out there, and prices tend to hold pretty steady.

Buyer’s Market

• In a buyer's market, there are more homes up for sale than there are people looking to buy. That puts buyers in a strong position for negotiations because sellers are willing to make concessions to close a deal. Sellers might even have to lower their prices to attract interest, although that hasn't been happening much lately because there aren't many homes for sale.

Seller’s Market

• Now, in a seller's market like we're seeing today, it's the opposite. With fewer homes on the market, buyers have a tougher time finding what they want. This leads to more competition among buyers, often resulting in bidding wars. And when buyers know they're up against others, they'll come in with strong offers, which could push up the final sale price of your home, which is great news for you!

See the graph below from the National Association of Realtors. It shows just how much of a seller's market we're still in today:

 

What Exactly Does This Mean?

Well…as the seller, the market is still on your side. By seeking out advice from a local real estate agent, like the ones here at Emmer Real Estate, to give you tips on preparing your house for the market and setting a competitive price, your house is bound to attract significant attention from eager buyers. This means you can anticipate multiple offers and a quick sale at a top-dollar price. Ramsey Solutions explains:

“A seller’s market is when demand for homes is higher than the supply of homes. And that’s still the case right now. If you’re planning to sell your house, you can expect to sell it fairly quickly for close to your asking price—as long as your asking price is realistic for the current market.”

 

In Conclusion

The housing market is still in favor of sellers. If you're ready to sell your house, let's get in touch so you can start taking action!

 

 

 

 

Source: Keeping Current Matters