Real estate is all about timing. If you want to make a good profit when you list your home, it benefits you to time your sale for when there’s a lot of buyer interest—and there are not a lot of competing sellers. And right now is actually that perfect time.
High Demand + Low Supply = The Perfect Time to List Your Home
Seller success is all about supply and demand. That means you have to look at how many buyers are searching in your area (demand) versus how many houses are available to buy (supply). If there are a lot of buyers but not a lot of sellers, there’s going to be a lot of competition amongst buyers—but not sellers—which is what you want!
And recent 2020 housing data shows promising results for sellers.
Buyer demand is extremely strong
Data from ShowingTime, a firm that compiles data from property showings, shows that buyer property showings has increased in each of the country’s four regions for five months straight.
That means buyers aren’t just casually looking—they’re scheduling showings, too!
Housing supply is historically low
New information by Move.com shows that the number of homes currently for sale has declined rapidly and now sits at its lowest level in almost 10 years! In fact, in January, the national housing supply decreased 13.6%—the steepest year-over-year decline in more than four years.
Favorable financial conditions drive buyers
Contrary to expectations, high buyer competition and low housing supply haven’t daunted buyers. Other favorable conditions, like low mortgage rates and stable listing prices, have kept buyer demand strong even in the highly competitive and fast-paced market.
Now Is the Time to List Your Home!
The real estate climate is perfect for listing a home! Buyer demand is high (so you’ll have lots of interest) and housing supply is low (so you won’t face a lot of competition). It’s the ideal situation for a speedy list with a good profit.
Thinking of listing in Raleigh? Contact us!
If you’re thinking of selling a home in the Raleigh area, it’s time to contact Linda Craft & Team. We’d love to put our 350+ years of combined experience to work to value your home and price it competitively.