Of course, you will only sell your home when you want to move, but if you’re thinking of selling and not sure how to time the market, here are some good reasons to sell your house this summer.
Buyer demand remains strong throughout the country as well as Summerville. These buyers are ready, willing, and able to purchase… and are in the market right now! Often, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market.
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in Summerville, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.
Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell your home.
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford and are ready to purchase before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 42 days. (Last numbers available.)
If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market with 7.4 months of inventory on the market in Summerville for homes over $500,000. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!
According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to start living the life you desire.
That is what is truly important.
If you’re curious about what you can sell your home for, send me a quick request. Click here. No pressure, no obligation. Just an estimate.