What More Listings Mean When You Sell Your House
The current state of the housing market is heavily influenced by the quantity of available homes for sale. If you’re contemplating putting your house on the market, the current scarcity of listings presents a significant advantage. This scarcity makes your property more noticeable, particularly if it’s appropriately priced.
However, there’s a growing supply of homes for sale. Recent data from Realtor.com indicates an upward trend in new listings, reflecting an increase in homeowners putting their houses up for sale. (see graph below)
This graph shows more homeowners are putting that sale sign up in their yards compared to the same time last year. As Realtor.com says:
“. . . sellers turned out in higher numbers this March as newly listed homes were 15.5% above last year’s levels. This marked the fifth month of increasing listing activity after a 17-month streak of decline.”
What This Means for You
If you’ve been postponing the sale of your house, it might be time to reconsider, especially before your neighbors beat you to it. While we’re not anticipating a sudden surplus of homes for sale, each new listing in your neighborhood poses a risk of diverting buyer attention away from yours.
For instance, if your neighbor decides to list their house, you could find yourself with direct competition next door. Naturally, you don’t want potential buyers to visit your home only to fall in love with another property. You want yours to shine in the spotlight.
An excellent real estate agent can help make that happen. They’ll assist you in preparing your home for listing, highlighting all the features that today’s buyers desire, and ensuring it’s priced competitively. This strategy aims to attract genuine interest in your property and motivate buyers to envision it as their future home.
If you’re prepared and willing to sell now, seize the opportunity to enjoy the best of both worlds. With the supply of homes for sale on the rise, you’ll have more options for your next move. However, by selling now, your home can still command attention amidst the growing inventory.
Bottom Line
Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. Let’s connect to go over the perks of selling before more homes come to the market.
