We have all been thinking it… “man, if I listed my home this year, I would be so happy with the price I would get!…”. For those of you (and by you, I mean me too!) that are still on the fence wither they should sell or not, here are four great reasons to sell your home before the summer is over.
Your House Will Sell Quickly
A recent market update from Ocean Pacific Remax in Courtenay showed an average of home staying on the market for 17 days in June of 2021, and 25 days in July of 2021. Having a low amount of average days on the market is a very strong indicator of buyer competition, meaning, buyers are more willing than ever to do what it takes to buy their perfect home (being your home!).
Buyers Are Willing to Compete for Your Home
Multiple offers (as scary and threatening as they may feel) are a constant reality in this market. It can be a bit menacing to buyers, although it does not need to be, however it is a great situation to be in for sellers! The National Association of Realtors is reporting sellers seeing an average of five “competitive offers”. This is a wonderful situation to be in as a seller because you can select whatever offer makes the most sense for you in your situation.
When There Is a Low Market Supply, There Is a Hight Market Demand for Homes Like Yours!
As more homes become available on the market as the months of 2021 go on, we see less and less competition in the market. Meaning less competitive offers, less multiple offers, and less flexible offers coming in. When the supply is low (as it still is now), more competitive offers, higher priced offers, and unconditional offers keep flowing in! Homes that are new on the market stand out like shining stars (when priced correctly). As we move along in 2021 and into 2022, we will see a lot more inventory become available meaning less people interested in your home if you miss the window of opportunity.
Higher Home Equity, Lower Interest Payments
Currently, in the months of August and September 2021, your home will likely sell for a higher price due to market demand. You will therefor have more equity in your home, increasing your buying power. This higher home equity combined with low interest rates strengthens your overall buying power to buy a new home closer to the home of your dreams.
What If I Sell My House and Find Nothing I Want To Buy or Keep Getting Out Bit?
Always make sure you go into selling your home with a plan. Know roughly where you are going to move, have a backup, know for roughly how long, and how much you want to spend and can spend. In such a competitive market place, you may even want to consider moving back in with your parents or in-laws temporarily, renting, or even going full hippie ad moving into a trailer for a couple months. The world is your oyster and you are the one who needs to figure out what is realistic for you and your situation. There is currently more and more inventory becoming available on the market every week. It all just depends on your wants and needs.
If you are thinking of selling, call your trusted realtor and see what makes the most sense for you.