If you have been mulling over the thought of selling your home, this fall just may be a great time to do so. Here are four reasons why the fall of 2020 is a great time to sell a home.
Buyers are Actively Seeking Homes
ShowingTime is a top real estate showing software platform and a real estate market statistics service provider. They have noticed that buyer traffic on their site has increased a whopping 60.7% from the same time last year.
This shows that there are a large number of buyers out there still looking to purchase homes, buyers have not slowed down their search just because it is fall. In several areas all around the country homes have gone into bidding wars resulting in homes selling for above list price.
The Inventory of Homes for Sale is Low
The National Association of Realtors puts out an Existing Home Sales Report and in their latest edition of this report, they stated there were only 1.49 homes currently for sale. While this seems like a large number, it is down a significant 18.6% from this time last year. This means that the amount of homes for sale is not enough to satisfy the amount of people hoping to purchase a home. Due to the pandemic many homeowners that would have put their home up for sale in the spring (traditionally prime real estate season) decided to hold off for several reasons.
As time goes on and more and more people are finding stability and discovering the benefits of selling the number of homes will begin to rise again. It is predicted that the amount of homes for sale will increase at the New Year, so now is the time to list if you are looking to sell while buyer competition is still high.
Homes are Selling Fast
The competitive market that has been created by more affordable home loans and a low amount of homes for sale is resulting in the homes that are for sale selling at a record pace. Buyers are making sure they are pre-approved and ready to make a solid offer on a home and are making an offer as soon as they find one they love. Homes in some areas are going from listed to pending in just a matter of hours.
You May Have Realized that You Really do Want a New Home
As we have all spent more time in our homes over the last several months, you may have noticed even more the reasons why you where considering moving. Selling right now could mean a huge boost in equity giving you even more affordability for a home you have been dreaming about. You might even consider building a brand new house exactly the way you want it.
Are you considering selling your home in St. George right now? Please contact me anytime. I am an experienced local agent that can help you sell your home quickly for the best price possible.
Erika Rogers – your real estate leader in St. George, UT, and surrounding communities. She specializes in new construction, golf course communities, gated communities, 55+ adult communities, St. George luxury real estate, and Washington Utah homes in all Southern Utah communities.
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