What It Means To Be in a Sellers’ Market
If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):
When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Courtesy of Keeping Current Matters
COVID-19 Update: For any news and updates on the COVID-19 Pandemic in San Diego, click here.
April 23 and 24: The Old Globe Production Of 'Hamlet: On the Radio
April 25: Curbside Timba Concert
Anytime in April: Visit the Carlsbad Flower Fields (tickets required)
Lisa Bruni United Real Estate San Diego
DRE 02066376 (760) 201-7202, homesbylisabruni@gmail.com
This content last updated on Thursday, April 22, 2021 5:40 PM from SDMLS.
This content last updated on Thursday, April 22, 2021 4:30 PM from CRMLS.
Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Each Office Independently Owned And Operated. The information provided herein is deemed accurate, but subject to errors, omissions, price changes, prior sale or withdrawal. United Real Estate does not guarantee or is anyway responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. Please verify all facts with the affiliate.
Copyright© United Real Estate
Privacy Statement-Terms Of Use
If you are using a screen reader, or having trouble reading this website, please call our Customer Support for help at 888-960-0606 .
Leave a message for Lisa