Top 3 factors that tell if now is a good time to sell your home
It is understandable that home sellers may be concerned that their home will not sell due to the COVID 19 pandemic. When the health crisis first hit, the economy seemed shaky and the real estate market in Massachusetts was put on hold. Home buyers were reluctant to move forward with their home purchase plans and home sellers held off on listing their home as well. However the resilient real estate market in Quincy MA and the South Shore proved to still move forward and continues to thrive. So how can you tell if it is a good time to list and sell your home? Here are the top three factors.
Sell when home buyer demand is high
Home buyer activity is surging despite the slight set-back our local markets experienced in March and April. With home inventory levels at an all-time low, buyers are now experiencing multiple offers and bidding wars when submitting an offer on a home. Red Door agents have experienced, on average, 3 offers on a home at a time and in some cases much more. While this may be frustrating for home buyers, it is very favorable for home sellers, making this an excellent time to sell your home in Quincy or throughout the South Shore.
Sell when competition is low
One of the best times to sell your home is when competition is low. Here in the South Shore MA home sellers may try to plan to list their home when buyer demand was high, such as during the Spring and Summer months or when listing inventory is lower, such as during the colder winter months. Trying to plan the best time to sell your home using this method could be frustrating. We have experienced low inventory in local markets consistently for some time now, so timing your home sale during slower times of the year to limit your competition is no longer necessary. Sellers have the upper hand and the bottom line is, right now is an excellent time to sell your home and capitalize on surging buyer demand.
Sell at the most favorable terms
Many real estate markets on the South Shore have seen an increase in home prices as a result of buyer bidding wars. In turn, home sellers can expect to get a competitive offer for their home within 98% of their list price and, on occasion, even 100% of their list price. Home sellers can evaluate offers and weigh multiple offers up against one another to ensure the most favorable terms for the seller. Red Door agents are prepared to educate home sellers on the varying nuances of each offer and explore which terms are most favorable to their needs.
If you have considered selling your home, there may not be a better time than now. The current market offers all the right factors to support this being the right time to sell your home. Our knowledgeable agents will research the home prices in your area and provide you with a comprehensive evaluation of your home to help make your decision to sell an easy one. To receive a Highest Price Analysis of your home contact us today!