A lot of people ask me if they’re better off selling now or waiting until later in the spring because they want to maximize the amount of money they will get out of their home.
Real estate prices are all about supply and demand. When there’s more supply and less demand, prices go down. When there’s less supply and more demand, prices go up. Why would you sell before spring, when there is the highest demand? While that’s true, it’s also true that supply is at its highest during that time as well.
“Inventory is low and demand is high right now.”
Right now is when buyers are actively looking and supply is very low. Without a lot of competition, these buyers are going to be fighting over your property. Over the weekend, we had two properties in two different areas of town that both received multiple offers. When inventory is low and demand is high like it is now, you’re going to have more buyers interested in your house, which will eventually lead to the best price.
Also, if you are in a market with a lot of demand, don’t just take the first offer that comes along. We’ve found through a recent survey that if most people took the first offer that came along instead of waiting, they left roughly $36,000 on the table on average. You have to properly position your home for sale and have a strategy for how to handle offers and maximize traffic.
If you have any questions for me about selling your home or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
