I get it. The past year has been full of uncertainty. While you may have planned to sell your home in 2020, the pandemic, recession, and general bizarreness that marked the year may have left you uncomfortable with the prospect of listing your home.
However, despite all of the things that made 2020 a weird year, the real estate market actually thrived throughout. And it’s still thriving.
You may have heard that there’s a low inventory of homes on the market. Because of low interest rates and buyer demand, many of those homes have been able to sell more quickly and for more than their asking price.
In the years leading up to 2020, 1 in 4 sellers accepted offers that met or exceeded their original listing price. In 2020, this was up to 1 in 3. If you look at the numbers month by month, this trend is headed upward with 40% of homesellers getting their asking price or higher.
Thankfully, you haven’t missed the boat!
You can still take advantage of this amazing market. Selling a home right now is a great opportunity to access the equity you’ve built and invest that in a new home. Housing inventory remains low as we move into the third month of 2021, and the Fed has indicated that mortgage interest rates will remain low throughout the year. This means that buyer demand will continue, propelling quick home sales and higher selling prices. Still not sure about selling a home? Let’s talk about what the market looks like in your particular area and what you can expect when you list your home.