Castle Pines | Why Sell Your Home Now Instead of Later?
Many homeowners wait until the spring to list their home for sale because they believe they can get a better price during the typical spring buyer’s market. However, recently released data suggest a seller’s best strategy may to to list now. The concept of ‘supply & demand’ is that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s look at how this applies to the current residential real estate market.
SUPPLY OF HOMES FOR SALE
The supply of homes for sale has been far below the number needed for over a year. A normal market requires 6 months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) shows there is currently only a 4.2-month supply.
Supply is currently very low!!
DEMAND FOR HOMES TO PURCHASE
Demand is very strong. The most recent Foot Traffic Report (which examines the number of buyers out looking at homes) disclosed there are more buyers right now than at any other time in the last 12 months. This includes more buyers looking at homes right now than at any time during last year’s spring market!
Demand is currently very high!!
Real Estate Bottom Line
Waiting until the spring to list your house for sale made sense in the past. This year is different. Buyers are in the market looking to purchase a home now. If you would like to maximize the amount of money you can get by selling your home, the best timing could be now.
It’s important to have a knowledgeable agent on your side who is an expert in the local real estate market. Selling your home to maximize your net profit takes market knowledge, marketing expertise and negotiation skills.
I am happy to provide you with the most updated strategic information for the sale of your home in Castle Pines.
To reach Marcy, please call 303-638-6536 or email email@example.com