With fall now quickly upon us, here are four reasons why deciding to sell your home now is an easy one.
1. Buyers Are Actively in the Market
ShowingTime, a leading provider of real estate market stats, says that buyer traffic has jumped 60.7% compared to this time last year. That’s a huge increase.
It’s clear that buyers are ready, willing, and able to purchase – and they’re in the market right now. On Cape Cod and across the country, multiple buyers are entering bidding wars to compete for the home they want. Taking advantage of engaged buyer activity can allow you to sell your home for the most favorable terms.
2. There Are Not Enough Homes for Sale
In the latest Existing Home Sales Report, the National Association of Realtors (NAR) said that there were only 1.49 million units available for sale. That number is down 18.6% from one year ago. This means in the majority of the country, there aren’t enough homes for sale to satisfy the number of buyers.
At the end of August, there were 1,019 single-family homes for sale and 333 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last August, there were 2,096 single-family homes and 530 condos listed for sale, a 51.4 percent decrease, and a 37.2 percent decrease, respectively.
Due to the health crisis, many homeowners have been reluctant to list their properties. This is changing as the economy continues to recover. The choices buyers have will increase as we head into 2021. Don’t wait until additional sellers enter the market before deciding to make your move.
3. The Process Is Going Quickly
Today’s ultra-competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home.
You’ve likely spent much of the past six months at home. Maybe now you realize how small your house is and that you really need more space. If you’re working from home and/or if your children are going to school virtually, your current floor plan just might not work for your family’s changing needs.
Concerned about where you can find your next home? Because of increased market activity, builders are ramping up. New construction will allow you to choose the exact floor plan to match what your family needs, plus make sure that you have all the outdoor space that you want.
Have you concluded that now is the best to make your move? Still not sure? We can help. Advising our clients on the best decisions for them has been our full time job for 21 years, not a part time hobby.
Let’s connect at 508-568-8191 or email@example.com to start the conversation. We look forward to working with you…
Stay healthy. Stay optimistic.
Mari and Hank