Fact: selling your home is one of life’s stressful experiences. Fact: not only will you survive it, but current market conditions are very favorable for sellers. If you’re thinking of selling your home in the near future, don’t be intimidated by the process. Here are some reasons why you should:
- Your home will likely sell quickly. According to NAR’s Realtors Confidence Index, homes are selling in just 17 days on average. This indicates strong demand, which is great news for sellers.
- Buyers will be competing for your home. The same NAR survey shows sellers receiving more than 4 offers on average. In certain markets, this number can average even higher. Multiple offers allow sellers to accept the best scenario for their financial well-being.
- Buyers are qualified and move fast. Historically low-interest rates brought buyers into the market, allowing many to qualify for higher-priced homes. Due to plenty of qualified buyers with cash and pre-approval, average days on market for new listings remains low. (Compass California Q2 Market Report)
- Inventory is low, shining the spotlight on your home. Inventory constraints continue to result in multiple offers and bidding wars as standard operating procedure. Sellers of remodeled and updated homes in desirable locations were inundated with multiple offers often far above asking prices, according to Compass California’s Q2 Market Report.
Gone are the days of waiting weeks or months for an acceptable offer. Today’s buyers are motivated, empowered by low interest rates, and driven to act fast by constricted inventory. If you’re ready to make a move, there isn’t a better time to list your home. Don’t be afraid to contact your Compass agent for a consultation.