On the fence about Selling your House? Read these 6 compelling reasons to Sell it Right Now!

There are six compelling reasons to sell your property right now.

If you’re undecided about where you’ll relocate, consider all these benefits that may offset your home-buying difficulties. While this is a difficult time to buy, the incentives to sell your current house may be too favorable to pass up.

According to NerdWallet’s newly issued 2022 Home Buyer Report, the majority (89%) of existing homeowners who want to sell their homes right now believe something is keeping them from doing so. Concerns about locating a new home and paying too much are the most often mentioned hurdles.

It’s true that finding a home, particularly one that meets all your requirements is difficult. Prices are rising due to competition for the few available residences. To seal a purchase, it takes many bids and occasionally a hot tip on a home that hasn’t been posted yet. Current owners, on the other hand, have an advantage: By taking advantage of the market on the seller’s side, they’ll have more money to spend on the buyer’s side.

1. Buyers are interested in your house.

Because inventory is so low, many buyers are likely hunting for a house like yours right now. On average, 1.3 million properties were on the market in any given month in 2019. According to NerdWallet’s study of Realtor.com data, the number of active listings had plummeted by 57 percent by 2021, to 540,000 on average. Before the pandemic, there was already a housing scarcity, but COVID-19 exacerbated the problem. Houses are now selling in days, not weeks or months, often with several competing bids. That demand isn’t going away anytime soon. According to the Home Buyer Report, about 26 million Americans plan to buy a home this year. Although that figure is implausible (Usually, 5 to 6 million properties are sold each year), it does show that the onslaught of purchasers is unlikely to abate.

2. Selling now might result in a higher profit.

Due to great demand and limited supply, prices have reached new highs. This implies you’re more likely than you would have been a few years ago to pay off your present mortgage and profit. In addition, homes are being advertised at higher prices and selling for the asking amount or more. In 2021, customers usually paid 100% of the retail price, with 29% paying more than the list price. While the sales price indicates your final financial advantage, receiving offers that are higher than you expected adds to the transaction’s excitement. According to statistics from the National Association of Realtors, average sale prices increased from $270,000 in 2019, before the pandemic, to $344,000 in 2021. They’ve grown much more in certain spots. According to NerdWallet’s data, over three-quarters (74%) of sellers did not have to lower their asking price at all in 2021, compared to 60% in 2019 and 39% a decade earlier in 2011. The study looked at 10 years of data from the National Association of Realtors’ annual Profile of Home Buyers and Sellers report.

3. Closing Day may arrive sooner and with fewer sacrifices.

Buying or selling a property is never a simple process, but it is much easier now than it has been in recent years. Not only will you be more likely to get numerous competitive offers, but you’ll also be less likely to have closing hassles.

4. Houses are being sold swiftly.

According to our examination of NAR data, properties were generally on the market for one week in 2021, compared to three weeks in 2019 and eleven weeks in 2012 and 2013.

5. Sellers are required to make fewer concessions.

During the closing process, it’s common for sellers to conduct some haggling with the buyer, such as extending a guarantee or money for repairs. However, these bonuses are becoming less popular. According to our research of NAR data, over three-quarters of sellers did not offer any incentives to entice buyers in 2021, compared to roughly 60% ten years before. During the same time period, the percentage of sellers who give a house warranty dropped from 23% to 13%, and the percentage of sellers who helped with closing costs dropped from 20% to 9%.

6. You’re more likely to be satisfied.

Closing on a house sale might leave you with regrets, if not lessons learned. However, in the current market, that seems unlikely. In 2021, seven out of ten (70%) sellers were “extremely happy” with their house selling experience. According to NAR data, only 54% could claim the same a decade earlier.

Should you make an appointment with me to list your home? Yes, yes you should!

I’ll help you make the best decision for you! Let’s talk, call or text at your earliest convenience for a FREE consultation on the matter (210) 418-0067.