Thinking of selling your house? Wondering if you should wait? Here's the scoop:
While the number of houses for sale has increased this year, it's not enough to meet the high demand from eager buyers.
So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works:
-
Balanced Market: This is where there are enough houses to meet buyer needs, and prices stay stable.
- Buyer's Market: More houses than buyers, giving buyers the upper hand in negotiations and potentially lower prices. This isn't the case now – there simply aren't enough houses!
- Seller's Market (Like Now!): Fewer houses than buyers create competition, leading to bidding wars and potentially higher selling prices for you.
Why It's Good to Sell Now:
With limited houses available, buyers are more likely to submit strong offers upfront to compete. This can significantly boost your final selling price. Data from the National Association of Realtors confirms we're still in a seller's market
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 ready and how to price it competitively, it should get a lot of attention from eager buyers. That means you’ll likely get multiple offers and see your house sell quickly and for top dollar. As a recent article from Ramsey Solutions explains:
“A seller’s market is when demand for homes is higher than the supply of homes. And that’s still the case right now. If you’re planning to sell your house, you can expect to sell it fairly quickly for close to your asking price—as long as your asking price is realistic for the current market.”
The Bottom Line:
If selling your house has been on your mind, seize the opportunity! The seller's market is on your side, waiting to help you maximize your profits.