One of the top questions that a Realtor is asked is: When is the best time to put a house on the market? With all of the unexpected circumstances that 2020 has brought, many wonder if this is a good time to sell a home.
The biggest surprise of 2020 so far has been the COVID-19 pandemic that shut down businesses across the nation and put the economy on hold. Many buyers and sellers feared this would drastically impact the housing market, and while that is true, it has actually been very beneficial to those looking to sell their homes.
Three Reasons to Sell Your Home
A pleasant surprise of 2020 is the current demand for houses. The market has been favoring sellers, as there is a strong presence of buyers looking for a new place to call home. As a result, home sales have increased dramatically. With the economy recovering and buyer demand high, bidding wars are not uncommon—and can cause the final sale price to exceed the original list price.
If you’ve been pondering listing, here are three reasons to stop waiting and sell your home!
Get the biggest bang for your buck
A benefit to putting your house on the market right now is that a lot of buyers are willing to pay, and outbid each other, to secure their own piece of paradise. The shortage of homes for sale allows the seller a competitive list price, unlike in a buyer’s market, when a seller may have to negotiate a lower price.
At this time, interest rates are low and as such are driving buyer demand. The current low interest rates can also be beneficial to sellers as well, if you’re looking for a new place to purchase after selling your current home.
The economy is recovering!
What may come as a bigger surprise to many is the state of the economy. While it may not be quite as good as it was prior to the COVID-19 pandemic, we are starting to see it bounce back more quickly than anticipated. With employers adding back jobs, people are able and willing to take a chance on buying a home or a piece of land as an investment into their personal lives.
As the economy improves, more buyers will be interested in purchasing vacation homes; it is very appealing to purchase a home that can be a sanctuary after staying in a home that may not have met all required needs for an extended period of time!
Buyer needs are expanding
With the recent transition to spending more time at home to keep communities safe, buyer demand has shifted to encompass homes that provide plenty of space. When home is the only place where you are allowed to stay for the health and safety of the community, it becomes an office, a restaurant, a private garden or park for you to enjoy the outdoors (or, if you are lucky to be on the Crystal Coast, a private beach or a beautiful view to enjoy the sunset!).
Buyers are eager to enjoy the space where so much time is spent. Many people are having their jobs moved to being permanently remote, and as a result can move farther away from their home office and live in their desired area without having to worry about daily commutes. All of these reasons have led people to want to have their home be a place that can meet all of their needs, whatever those needs may entail.
Sell Your Home and Find Your Own Piece of Paradise!
Navigating the housing market can be like taking a boat through choppy waters. The Crystal Coast is a great destination for many potential buyers, with its gorgeous views and charming yet serene lifestyle. Luckily, Linda Rike’s real estate team is here to get you through to smooth sailing.
If you have any questions regarding the current market, or how to get started on selling your home, we are here to help and always happy to be of assistance. Contact us today to sell your home on the Crystal Coast and find a new piece of paradise for you and your loved ones to enjoy!