With national real estate statistics showing what appears to be a cool down in the market, some homeowners are asking if now is still a good time to sell their house. Here are a few thoughts based on what I am seeing.
Mortgage rates have normalized from the dramatically low rates we have seen in recent years. Those low rates contributed to the historic push in housing values because home buyers had more buying power. Normal rates should slow the surging prices.
Buyer Demand is still high! Despite the leveling off of prices, there are still many buyers in the marketplace searching for their next home. They simply may be more cautious with the terms in their offers.
Buyers are less willing to pay a premium for homes in need of some projects. Sellers have become a bit relaxed with home prep in recent years, but it’s time to get back to showing homes in their best light!
TIPS FOR FALL 2022 SELLERS:
BE SMART! Lean on your Realtor to advise you with pricing your home. It is critical that you DON’T OVER PRICE a property as it can backfire quickly. The real estate market is shifting extra quickly right now. Agents have to study data very closely because home prices from just a few months ago may not be the best indicator of what a home will sell for today.
You should still see strong profits and shorter days on market this fall. Supply and Demand will keep the market tipped in the Sellers favor in many areas. Make sure to put in the effort to prepare your home and listen to your Realtors guidance on pricing based on the most recent data.
QUESTIONS? Reach out to Emily!