Hey there, homeowner extraordinaire! Thinking about selling your house? You’re probably trying to juggle the current market conditions and your own needs as you plan your move. Well, let me tell you, timing is everything in the real estate game. And when it comes to selling your humble abode, nothing makes the stars align quite like low inventory. It may be working in your favor right now (hurrah)! Before you jump in feet first, here’s what you need to know.
The Supply of Homes for Sale Is Far Below the Norm
When there are fewer houses on the market, it’s like being the last piece of pizza at a party – everyone wants a slice! With limited options available to buyers, your home becomes a hot commodity. Suddenly, your place goes from just another listing to the belle of the real estate ball.
To tell the story of just how low inventory is, here’s the latest information on active listings, or homes available for sale. The graph below uses recent data to show how many active listings there were in September of this year compared to what’s more typical in the market.
That red bar is a little obvious, no? The last normal years for the market (those chill blue bars) make it clear inventory is still far lower than the norm.
What That Means for You
Buyers have fewer choices now than they did in more typical years (we’re talking 2017-2019 here). Low inventory translates into high demand and potentially higher prices for your property. Selling your house is like having a yard sale where people are fighting over that dusty old lamp you thought was worthless. Cha-ching!
But wait, there’s more! With less competition from other sellers, you have a better chance of getting multiple offers and even bidding wars! It’s like being in an episode of House Hunters where buyers are willing to do anything – and I mean anything – to snag your place. Based on a recent report, a whopping 69% of homes sold in less than a month AND the average number of offers was 2.6!
Bottom Line
So friend, if you’ve got that itch to sell and low inventory is in town, seize the moment! The universe has aligned just right for you to make some serious moolah. Get ready for that SOLD sign because it’s time to cash in on this real estate frenzy while it lasts! Let’s connect to get your house listed at the right price for today’s market. You could still see it sell quickly and potentially get multiple offers.
Anytime between “now” and “right now” is a good time to take action on shaping your best life, and that includes where you live. Let’s get the ball rolling on your next steps.
(702) 374-6807. Or drop me a line here.
