Welcome - I'm so happy you're here!

To Sell or Not to Sell Now?

Dated: June 18 2021

Views: 237

We're in the ultimate sellers' market right now. If you're a homeowner thinking about selling, you have a huge advantage in today's housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here's an overview of what's creating the prime opportunity to sell this summer.

High Buyer Demand

Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered very strong in almost every state. Homebuyers aren't just great in number right now – they're also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer's sellers.

Low Inventory of Houses for Sale

Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.comexplains:

For most sellers listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sales price… They'll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.

NAR also reveals that unsold inventory sits at a 2.4-months' supply at the current sales pace. This is far lower than the historical norm of a 6.0-months' supply. Homes are essentially selling as fast as they're hitting the market. Below is a graph of the existing inventory of single-family homes for sale:Don't Wait To Sell Your House | MyKCM

At the same time, homebuilders are increasing construction this year, but they can't keep up with the growing demand. While reporting on the inventory of newly constructed homes, the U.S. Census Bureau notes:

The seasonally‐adjusted estimate of new houses for sale at the end of April was 316,000. This represents a supply of 4.4 months at the current sales rate.

What Does This Mean for You?

If you're thinking of putting your house on the market, don't wait. A seller will always negotiate the best deal when demand is high and supply is low. That's exactly what's happening in the real estate market today.

Bottom Line

As vaccine rollouts progress and we continue to see the economy recover, more houses will come to the market. Don't wait for the competition in your neighborhood to increase. If you're ready to make a move, now is the time to sell. Let's connect today to get your house listed at this optimal moment in time.

Blog author image

Shari Silva

Realtor, Bay Area & Central Coast Native, Experienced in sales & business development. Professional, projects a positive, team-first attitude. Licensed in Real Estate on the Central Coast of Californi....

Latest Blog Posts

Rent or Own, You Choose

Some HighlightsWhen you rent, you build your landlord's wealth, your monthly payment depends on ever-rising rents, and you don't benefit from home price appreciation.On the other,

Read More

To Sell or Not to Sell Now?

We're in the ultimate sellers' market right now. If you're a homeowner thinking about selling, you have a huge advantage in today's housing market. High buyer demand paired with very few houses for

Read More

Should You Cash in on Your Second Home?

When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for

Read More

Thinking About Selling Your House? Prioritize These 3 Things First!

Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means

Read More