The best time for home-selling is when the competition is at an all-time low.
In a recent survey, 46% of home sellers said to delay listing their home for sale. Just over half (51%) of home sellers said they’re seriously worried about selling their home because of the pandemic and resulting economic recession. The data, however, is showing that home buyers are still very active despite the disruptions American families have experienced this year.
While home-buyer activity is surging, the number of listings has fallen to an all-time low. Bidding Wars are heating up again as home-buyers are finding themselves needing to outbid other buyers. In a recent blog post from the National Association of Realtors, they revealed:
“On average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers).”
According to an annual trends report from NAR, 99% of the final listing price was the final sales price for recently sold homes. And 89% of all sellers sold homes using an agent or broker to help market their home to potential buyers, sell within a specific timeframe, and price their home competitively.
If you’re thinking of selling, we have several precautionary measures in place to protect you and your families’ health. If competition is your concern, there’s no better time to sell an item than when demand for it is high and supply is low. It is at that time when we can negotiate your best possible deal.
Schedule a complimentary call here to get more insight into how your house fits into the current seller’s market.