3 Reasons Why You Should Sell Your Home Now
As we start to slowly emerge from the coronavirus pandemic, we’re seeing a housing market that is hotter than it’s been in quite some time. Yes, market conditions can vary in different areas, but on the whole, we’re seeing a seller’s market almost everywhere.
It's a great time to sell your home and here's why:
1. Your home may sell for more than the asking price. Having a home sell for the asking price is high on the list of most seller’s priorities. With the current market conditions, many homes are not just selling for initial list price, they’re selling for more. Although there’s obviously no guarantee that your home will sell for above the asking price, it is a scenario that’s more common these days. According to Realtor.com, the median home price in March was $370,000, which is an all-time high.
2. You may have more than one bid on your home. One of the most eye-opening aspects of the current market is that the current number of homes on the market nationally is about half of what it usually is for this time of year. And what does this mean for you if you’re putting your home on the market? It could mean that the basic law of supply and demand will result in multiple bids on your home—and you’ll be able to choose the very best offer.
3. Your home may sell quicker. A housing market with low inventory can also equate to homes selling faster. For March, the average time on the market for a typical home was 54 days, which was six days less than in March of last year, according to Realtor.com. In the 50 largest metro areas of the country, that number was even lower, with the average time on the market coming in at 39 days. For those sellers who dread the thought of having their home sit on the market, these numbers are very appealing.
It’s difficult to predict how long the current conditions will last, so take advantage of it while you can. As always, before making any decisions about buying or selling, talk to your real estate agent.
For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.
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