Now is a Great Time to Sell Your Home
Are you thinking about selling your home in New York? It’s a hot seller’s market right now, so you’ll have a big advantage in today’s market. Buyer demand is high and inventory is low, so it’s a perfect time to put your home on the market. Here’s a breakdown of reasons to sell this summer.
High Buyer Demand
Buyers are ready to buy, and they are actively looking for homes. There are lots of buyers who are determined to find their dream home. According to the National Association of Realtors (NAR), almost every state has very strong buyer traffic and the average home for sale receives five offers. Multiple offers mean potential bidding wars, driving up the sale price for your home.
Low Housing Inventory
Since buyer demand is high, the inventory on the market is low. Selling your home when there’s low inventory means less competition from other sellers, and possibly a higher sales price. We don’t know yet when interest rates will rise or more sellers will enter the market, so the sooner you’re able to list your home for sale, the sooner you’ll be able to take advantage of the current market conditions. NAR says that unsold single family homes now sit on the market for an average of 2.4 months, versus the historical average of 6.0 months. Although homebuilders are increasing construction this year, they can’t keep up with the increasing demand.
List Your Home Today
If you’re considering putting your home on the market, now is the time! Sellers are always in a position to negotiate the best deal when buyer demand is high and housing supply is low. Contact Shares of New York today and let our expert agents guide you through the process and answer all of your questions.