What Can You Can Expect From a Rising Market
As a seller you can expect to get more for your home when it sells in a rising market. An increase in the market of 10% means that your home that was valued at $300,000 is now worth $330,000. With the decrease in number of homes for sale, it is a case of supply and demand, with limited supply creating higher prices.
If you have been thinking about selling, but don’t want to sell now because you think the value you once had is not there, consider the current market conditions. Home prices are rising and so are interest rates. With more buyers than sellers, multiple offers is the new normal. With the frequent use of escalation clauses, homes are being bid up above list price.
“Maybe I should wait to list because the market is going up and I can get more for my home later.” Sound like a thought you have had recently? As quickly as the market went from a buyers market to a sellers market, the increase in prices can end just as quickly. Interest rates are still low, so it is a perfect time to list to get the most for your home. Call me and let’s look at what your home could sell for in today’s market and then decide if you want to list. You just might be pleasantly surprised.