February 1, 2021
3 Reasons Why He Who Hesitates, May Be Lost in the Spring Real Estate Market
If you are thinking about selling your home, PLEASE don’t wait for spring. I can’t give you one good reason to consider selling now – I can actually give you THREE!
- There are no crystal balls.
This is a market unlike any other, and you have to respect that. Demand is driving the market – not the convenience of ending the school year, moving over the summer, or beginning the next school year somewhere new. Buyers buy when they can find the right house and win the bidding war, not when it is convenient for them. Demand is super-high now – who knows what will happen in the future?
- You’ve got almost no competition.
Rates are low – and inventory is even LOWER than it has been throughout the pandemic. Remember waaaaaay back to last March? At the start of the pandemic, we were having the healthiest real estate market since the meltdown 13 years ago. Then things got more competitive – and now there is even less inventory.
Here are some stats from Dumont as of 1/27/21:
- Single-family homes sold over the last 3 months: 66 (22 homes/month)
- Current inventory: 14
- Homes on the market longer than 12 days: 5 of 14
Less supply and more demand = better prices and terms for sellers.
- Easy planning, less stress.
If you do decide to sell now, and you price and prepare properly, your sale will be quick and painless. If enough buyers are competing for your house, you can command your preferred terms and closing date. For example, you put your home on the market February 1, are in contract within 2 weeks, and ask for a May 15 close date. The same goes for other important terms (a topic for another blog.) Knowing when you will move and being able to plan for that is priceless peace of mind.
We KNOW it’s a great time to sell. We don’t know what changes may be in store as the year unfolds. So eliminate the guesswork and stop worrying about the groundhog’s prediction of six more weeks of winter. NOW is the time to take advantage of this golden opportunity.