If you have been wondering when the right time is to sell your house, you should know now is the best time of the year. One of the largest real estate websites, realtor.com, confirms that the prime time to sell a home is right around the corner. By looking at historical economic and market trends, the study in the link above highlights why this month is a great time to list a home.
Now is not the time to sit idly by and miss the perfect time to sell. By preparing to sell your home as soon as possible, you can expect to see the following trends work in your favor.
You Should See More Buyer Activity
One of the most significant factors working in a seller’s favor is robust buyer demand. A realistic outcome of this increased demand is a home receiving multiple offers and a subsequent bidding war driving up the selling price. Mortgage rates have been rising, and this variable alone has a significant increase in buyer demand. It is as simple as it motivates a buyer to enter the market before the cost of borrowing money for a mortgage rises too quickly. David Krechevsky quotes the Weekly Mortgage Applications survey by the Mortgage Bankers Association and states that:
“…for the week ending March 4, showing that the Market Composite Index, a measure of mortgage loan application volume, increased 8.5% on a seasonally adjusted basis from the previous week.”
Your House Is Expected To Sell Quickly
Another benefit of the real estate market at this time of year is how quickly your house will sell. The increased demand and competition helps ensure that qualified buyers are bidding on your home, and this will help expedite the closing process and lead to a quick return on the sale of your home.
Your House Will Be in the Spotlight
Most people know someone or have heard anecdotes about how difficult it is to find homes for sale. The recent trend has been that for-sale home supply is near record levels. Couple that with the fact that the housing market supply is naturally at lower levels over the winter. Buyers eager to purchase have been waiting for the weather to warm up and an increase in seller inventory. There will be increased competition among buyers, but there will be less competition among sellers. This combination can make it even easier for your home to stand out to potential buyers.
If you are ready to take the next step and list your house, then April is the best time! Even if April might not be feasible, you can still benefit from getting the process started.
If you are ready to take advantage of the best time of the year to sell your home, we will help you with the entire process. An excellent place to start is compiling a checklist of items to complete to get your home ready. We can even help prioritize your list and get you on the road to selling your home in no time for a great price!