If you have been thinking of putting your home in Western MA up for sale you might want to move your timeline up to right now.
Common thought is the best time to sell your home is in the Spring, most people think April and May are the right time. Following that timeline may not be your best plan.
There are several factors at play that make now a great time to get your home on the market:
Listing inventory is at a serious low level. There are not many houses available and that means the buyers have less selection. New inventory that is priced appropriately will get a larger percentage of “screen time” for these buyers.
According to a post by Keeping Matters Current, “The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong.”
The next piece to this puzzle is the buyer activity. Mortgage activity is on the rise with a fresh pool of buyers getting ready to hit the market in March. As reported by CNBC in their story about the rising mortgage applications, ” Spring generally brings more sellers to the market, but so far Realtors are not seeing enough new listings at affordable prices to meet the demand. ”
Buyers who are out looking right now are very motivated and serious about a home purchase. They may need to purchase before they lose their low interest rate or perhaps are relocating. Whatever the reason, they want housing NOW and there isn’t enough inventory to satisfy the current demand, much less the buyers in the wings who are getting pre-qualified now.
Waiting until the traditional “spring market” will mean there will be more homes on the market to and your edge will be reduced.
So, snow or no snow, these signs point to NOW being a really great time to get a jump on the competition and get your Western MA home sold.
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