If you’re a seller, you should first know that our market’s inventory levels are at their lowest point right now, and they’ll remain that way for the next three to four months. Come springtime, inventory levels will rise anywhere from 10% to 20% per month, which means there will be more competition in getting your home sold. So why wait? There are serious buyers out there right now who have limited choices, which means you could increase your chances of getting your home sold at a higher price.
Second, investors need to buy now. In many cases, they may have sold a property through the course of this year and now have to get their money into another property before the end of the year.
The third reason sellers should act now is the level of old inventory on the market. Many homes have been sitting on the market for a long time at this point, and buyers have passed these homes by. Your home would be a fresh listing by comparison. When new listings hit the market, buyers jump at the opportunity to take a look at them and see if they fit their home buying criteria.
If you’re a buyer, don’t forget that if you wait until the springtime to buy, you’ll deal with more buyers entering the market right alongside you, which means more competition for you to deal with. Why risk getting into a bidding war when you have a much better chance of finding and closing on a home you love today?
Additionally, some sellers whose homes have been sitting on the market for a while and still haven’t sold may be getting anxious and, therefore, more motivated to sell them. This gives you an opportunity to work with one of these extra-motivated sellers.
There has never been a better time to buy or sell real estate than right now.
If you have any more questions about this topic or you’re thinking of buying or selling a home soon, don’t hesitate to call us or send us an email. We’d love to help you.