There is high buyer activity and a historically low number of houses for sale on the Suncoast right now. The perfect time for homeowners to sell their house is when the demand for homes is higher than what’s available for sale. Homes that are in good shape and move-in ready are typically going under contract within days. Here are a few ways that low inventory can help you get a great deal if you’ve been on the fence about selling your current home.
Better Seller Terms
When there is a seller’s market like there is today, it is much more like being in the driver’s seat when you choose to sell your home. The ball is in your court and you have the power to sell on your own terms because low inventory means less choices for buyers. Buyers are more likely to work with you if it means they can purchase a home in a market where they are hard to find. This may mean that the renovation you were certain you'd need to do to get it ready for the market can be put on the back burner and you can move forward with your plans now versus later.
Greater Investment Return
ROI is a major focus in real estate. As prices rise, homes gain value. This drives equity increases - in just the second quarter of last year, homeowners were gaining an average of $9800 in equity. Growth in equity can give you the ability to put that money toward a down payment on your next home. Couple that with record low interest rates, and you have got a great opportunity.
Higher Prices
With buyer numbers high and seller numbers low, homebuyers are having to enter bidding wars for the houses they want. This competition drives up the price of your home - simple supply and demand! The weather in Florida is amazing right now and after being cooped up, quarantining northerners have had it---it's time to move to Florida! This is absolutely a seller advantage, and could potentially net you more for your house when you finally close the deal.
Interested in Selling your home? Call me today at (941) 504-7260 for a no obligation discussion about how I can help you market and sell your property for top dollar and with low stress.