The Spring Market is Starting Now
Competition for housing is so high, the spring market is starting now.
If you are looking to sell your home, now is the ideal time. In the past, sellers waited until spring thinking that there would be a lack of potential buyers during the colder months. However, with the decrease of the amount of homes on the market and the interest rates at an all time low, listing early will bring a great advantage to the seller. Many buyers have currently been looking for a new home for an extended period of time and with minimal choices they are ready to jump when a new home lists for sale.
Another advantage to selling now is the lack of competition has driven the sale prices higher. According to MLS Stats Report in 2018, the average selling price in our district was $166,793. In 2019, there was a 6.1% increase with an average selling price of $176,937. With interest rates historically low, this should keep the market on the same track for 2020. Buyers are more likely to purchase a home when they can get low interest rates and in turn a lower payment.
In my opinion, if your house is priced correctly, it will sell quickly and for the price you are looking to get. Buyer’s have little or no houses to choose from in the current market. Now is the time to sell before competition increases in the spring! Get ahead of the game, give VP Realty a call. We would love to talk Real Estate.