If you’re one of the many homeowners thinking about taking your house off the market for the summer holidays, hang on.
You definitely don’t want to miss the great selling opportunity you have right now.
Here’s why this is the optimal time to make sure your house is available for holiday buyers.
The inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers.
When the supply of houses for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This means competition among purchasers rises, and, more bidding wars take place - if your property is going to Auction - , making it essential for buyers to submit very attractive offers no matter which method of sale you decide on.
As this happens, prices rise, and sellers are in the best position to negotiate deals that meet their ideal terms. So, if your neighbours decide to remove their listings this summer season, your house may quickly rise to the top of a buyer’s wish list if you stay on or launch to the market now.
Today, there are many buyers who are ready, willing, and able to purchase. Record-low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live and to take action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Home prices are appreciating in today’s sellers’ market. Making your home available over the next few weeks will give you the most exposure to buyers who will be actively competing against each other to purchase it.
Thinking about selling this summer holiday season? Reach out to me today for a free consultation.
Helpful and interesting info from Paul, and Harcourts to help you with your property journey.