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During the past five or more years things in the real estate world have been challenging to say the least. Particularly in harder hit markets, sellers have been wary about putting their home on the market only to find that there wasn’t enough interest in the property.
But things have drastically changed over the past year or so. Today, we
are looking at an inventory level of just 3.7 months. What that means is that
if nothing were to change and no new properties were to be listed on the
market, it would take that much time for all the current available homes to
sell. Right now, we have 3,100 homes on the market – our lowest level in six
years!
How does this translate to you as a homeowner that might want to sell?
It means that there could not be a better time to sell your home. With
decreased inventory, demand automatically rises. And when we have higher
demand, we see sellers getting higher returns on their properties. There are
even cases with sellers getting multiple offers these days, especially for
homes that are priced right, located in desirable locations and in good condition.
The most important thing to determine initially is your level of
motivation to sell the property. Are you listing the home due to job
relocation? Are you interested in taking advantage of the current low mortgage
rates and want to buy a bigger home? Is downsizing the goal or are you just
wanting to get in on the action before prices start to appreciate as they have
been predicted to do so in the coming months and years ahead?
Regardless of what your reasons are, it is essential to evaluate the
current market conditions. And what we are seeing today is an ideal environment
for both buyers and sellers alike.
If you would like more information about our marketplace or if you want
to discuss your options and learn of how we will market your property to get
you top dollar, we invite you to contact us today at either 760.774.0105 or via
email at dave@teamkibbey.com.
