Here’s what to consider if you’re thinking about selling your home in 2021.
Is it better to sell your home in the spring or summer? Whether you’re talking about the stock market or real estate market, timing matters if you want to capitalize on your investment. The answer to my initial question boils down to what inventory looks like at the time you’re considering selling.
We currently have a scorching-hot market with inventory at historic lows and demand higher than ever. Last month, we received 28 offers on a house we were selling. You can sell your home for much more money if you have 28 offers as opposed to two or three. Our sellers couldn’t have been more excited.
Three upcoming factors will increase our inventory:
- Summer. You see it in your own neighborhood: Every summer more for-sale signs go up as more properties hit the market, and this one will be no different.
- More vaccines distributed. As people feel more comfortable with the COVID-19 levels decreasing, many will list their homes.
- Increasing interest rates. Rates have already increased over the last two weeks and should continue to as we move through the year.
Timing will be more crucial this year than most if you want to sell for top dollar.
To stay informed with timely updates, look for our weekly social media posts on Facebook and Instagram with current market statistics. As always, if you have questions about when to sell or any other real estate topic or you’re thinking about selling, please reach out via phone or email. Thank you for allowing us to be your local real estate experts.