Listing While Inventory is LowJanuary 31, 2020 / Real Estate, Real Estate Trends, Selling
Many real estate markets are experiencing a shortage of inventory, including here in the Greater Seacoast region. This is in part due to the rising costs of construction, more families staying put and lower mortgage rates leading to an increase in demand from buyers. As it becomes harder to find available homes that fit a buyer’s unique needs, it creates a strong sellers market for those who list during this time. Rather than waiting until spring, here are 4 benefits to listing your home now:
INVENTORY MAY RISE IN THE SPRING
Historically, it has been a trend for homeowners to list their homes in the spring once the weather warms up. However, if there is a sudden increase in inventory during the spring, home buyers will then have more options to choose from and their offers may be less competitive as a result. Also, buyers who wait until the spring may not be in a rush to buy, leading to our next point:
WINTER BUYERS ARE OFTEN MORE MOTIVATED
Buyers who are looking to settle into a home during the winter are often a little more serious and want to avoid a prolonged search. It can be less convenient to move during the winter, so chances are if a buyer is actively looking now instead of waiting for the warmer months, they may be on a tighter timeline – which could lead to better offers and a quicker closing for you.
AGENTS ARE LESS BUSY
Winter months are typically a little slower for real estate agents, giving them more time to dedicate to open houses, showings, networking with buyer agents and guiding you through any recommended upgrades or staging that may assist in a faster sale.
IT COULD HELP YOU BUY
If you’re looking to sell your home in order to buy another, listing it now would give your house more exposure while you start your own search. Getting a buyer lined up is a great way to ensure you’re ready to buy once you find the home for you, rather than risking getting yourself into a contingency situation. If you find a home before your property sells, it could lead you to accepting an offer lower than you’d like in order to hurry things along.
If you’re on the fence about selling and want to discuss your unique situation with one of our agents, send us a note to [email protected] and we’ll help guide you through your options!