Why Today’s Seller’s Market Is Good for Your Bottom Line

Thinking of selling your house and questioning if now’s a good time to do it? Here’s what you need to understand. Despite the fact that the number of homes for sale has been growing this year, there still aren’t enough homes on the marketplace for all the purchasers who wish to buy.

What does that mean for you? To keep it basic, it implies it’s still a seller’s market. Here’s how it works:

A neutral market When supply and demand is well balanced, is. Generally, there suffice homes to meet buyer demand based upon the current sales speed, and home prices hold fairly stable.

A purchaser’s market is when there are more homes for sale than there are purchasers. When that occurs, buyers have more negotiation power because sellers are willing to make compromises to close the deal. In a buyer’s market, sellers might have to do cost cuts to re-ignite interest in their home, and rates might go down. We have not seen this for years since there are so few homes readily available to purchase.

In a seller’s market, it’s just the opposite. When the supply of homes for sale is as low as it is right now, it’s much more difficult for buyers to find homes to buy. That creates increased competitors among buyers which can cause more bidding wars. And if buyers know they may be going into a bidding war, they’re going to do their finest to submit a very attractive deal upfront. This could drive the final price of your house up.

The chart listed below uses data from the National Association of Realtors to reveal just how deep into seller’s market area we still are today:

What Does This Mean for

You? The market is still working in your favor. If

you lean on an agent for advice on how to get your house list prepared and how to price it competitively, it must get a lot of attention from excited buyers. That suggests you’ll likely get multiple offers and see your home offer quickly and for top dollar. As a current article from Ramsey Solutions explains:”A seller’s market is when demand for homes is higher than the supply of homes. Which’s still the case today. If you’re preparing to sell your house, you can expect to offer it fairly rapidly for near to your asking rate– as long as your asking cost is practical for the present market.”Bottom Line Today’s real estate market still prefers sellers. Let’s connect so you can start making your relocations if you’re all set to offer your house. To keep it easy, it suggests it’s still a seller’s market. In a purchaser’s market, sellers might have to do rate cuts to re-ignite interest in their home, and prices might go down. The market is still working in your favor.:”A seller’s market is when need for homes is higher than the supply of homes. Today’s real estate market still prefers sellers.