When Is The Best Time to Sell Your House is When Others Aren’t Selling
Are you considering selling your house? If so, timing is everything. The real estate market can fluctuate, and it's essential to sell your home at the right time to get the best price possible. In this article, we'll explain why using West USA Realty of Prescott is the real estate company to help you sell your home. Additionally, we'll discuss the best time to sell your house, and how you can maximize your profit by selling during a low inventory market.
The Benefits of Using West USA Realty of Prescott
Choosing the right real estate company can make all the difference in the home-selling process. West USA Realty of Prescott is a full-service real estate brokerage with a team of experienced agents who specialize in selling homes in Prescott, Arizona. Their agents are knowledgeable about the local market, and they have the expertise to help you sell your home quickly and efficiently.
West USA Realty of Prescott's agents will handle all aspects of the selling process, including marketing your property, scheduling showings, negotiating offers, and closing the deal. They will also provide you with guidance and support throughout the process, ensuring that you feel confident and informed every step of the way.
The Current Real Estate Market
When it comes to selling your house, timing is everything. The real estate market is constantly changing, and it's crucial to understand the current trends to determine the best time to sell. Currently, the number of homes for sale is low, which is excellent news for sellers.
Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market. In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April.
One thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It’s called a rate lock. As a recent survey from Realtor.com explains, 56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.
Why Selling During a Low Inventory Market is a Good Idea
While this wait-and-see approach is right for some sellers, it also creates an opportunity for more eager sellers to jump in now. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says, "Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties."
How to Stand Out in a Low Inventory Market
If your current house truly doesn’t fit your needs anymore and you’re ready to move, don’t miss this chance to stand out. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right.
Working with a real estate professional can help you maximize your profit in a low inventory market. They can help you determine the right price for your home and help you navigate the selling process.
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