A great move is defined by a process that is quick, seamless and will put you in a profitable position in the future. If you are deciding whether to make a move this spring, this is the time to prosper as a seller in the market. If you are ready, there are many factors that will benefit your decision to move this spring. Let’s look into why this will be the perfect season to purchase your dream home!
One outstanding reason to list your home for sale is that there is high demand from buyers in the market today. Buyers are extremely active in the market, with ShowingTime even reporting, “Buyer showings are up 51.5%, compared to this time last year.” Demand for real estate has been elevated with supply levels for housing inventory remaining steadily low. Each house is getting more requests to be looked at on average, in comparison to last year. Positioning your house for sale will entice many potential buyers in this market, putting you in the driver’s seat as the seller.
With buyer demand so strong in the market, it is leading to a low inventory of available houses for sale. Experts have analyzed the market and discovered astonishing reports that there are approximately 496,000 fewer homes for sale in the market today. Realtor.com has even stated that “the inventory of homes for sale has decreased by 48.6%.” Houses are selling at an extremely fast rate and only tend to be on the market for around 21 days. Sellers have a huge advantage and will gain the opportunity to negotiate the best deal possible for them.
Seller’s being in the driver’s seat ensures the amount of leverage they will have in the market. A seller’s market means that there are more people interested in buying a home than selling, which in turn gives seller’s the upper hand. Bidding wars are happening in the market giving seller’s an increased amount of leverage. Take advantage of the great benefits this spring that will give you the most favorable terms as a seller.
Homeowners gained an average of $17,000 in equity over the last year, but this number will continue to grow as home values appreciate. Equity is described as a forced savings that increases while you are a homeowner and can be put towards your next home when you decide to move. Rising equity has spurred the wealth effect; which is a behavioral economic theory suggesting that people spend more as the value of their assets rise. As more homeowners gain equity in their homes, they are more likely to consider making a move.
With such changing needs over the course of the last year, many of us are adapting to find a new home that will better fit our lifestyle. Spending extra time at home with work and school is leading us to re-evaluate important factors when considering to look for a home.
If you are considering selling your home, this spring is the perfect time! Favorable market conditions will position you to win big as a seller. Let’s connect so you have the opportunity to fully bloom in the real estate market today!