The real estate market continues on, and as we get into summer, we are also getting deeper into a sellers’ market, in which prices are rising and inventory is shrinking.
This sellers’ market is one in which sellers can command higher prices, as well as a higher percentage of their original asking price. We are seeing that in our area, as prices have increased consistently for the past two years.
What are some signs that now may be the best time to sell your home? One sign is the amount of traffic we’ve seen online from buyers interested in homes. Trulia reports that it is experiencing “record levels of traffic”, with nearly 50 million unique website visitors in the month of April alone.
The National Association of Realtors also reports that another metric, foot traffic (that is, the number of homes being shown by real estate agents), is also up and has been increasing over the past three months.
Judging by these two reports, now may be an ideal time to sell. Prices are higher and inventory is lower, which means there is less competition for your home. Less competition is ultimately good for sellers; it leads to fewer days on the market and typically receiving a higher percentage of your original asking price from interested buyers.
If you’ve considered selling your piece of real estate, now may be the time to put those plans into action. Contact me for more information on making that happen.