When is the best time to sell your home if you’ve been thinking about selling at all in the near future? Right now we have an epic shortage of inventory, and so if you’ve even considered the idea of selling your home, now is the time to do so.
A normal market has about six months of inventory. Right now, our market only has 2.4 months. If no other homes were put on the market, we would sell out of homes in just over 2 months.
According to NAR Chief Economist Lawrence Yun, there simply isn’t enough supply to satisfy demand. “Prospective buyers are being limited and sidelined by home prices that are climbing too fast. Current demand levels indicate sales should be stronger, but some would-be buyers are having to delay their home search because low supply is leading to worsening affordability conditions,” Yun said.
If you’re a seller, you’re in the driver’s seat, so it’s time to hit the gas pedal. You’ve got more negotiating power when it comes to price and terms, and the average days a home spends on the market is very low.
If you have any questions for us or would like to discuss your real estate goals, give us a call or send us an email. We would love to hear from you.