If you’re a homeowner, are you pricing your home to sell?
If you’ve been watching my videos lately, you’ve heard me say inventory is low and demand is high. We’re seeing a lot of homes sell for more than what they’re worth because buyers don’t have a lot of options. The market is beginning to shift just a little bit, and inventory is rising. In fact, inventory has increased 10% month over month since the last time I checked.
Inventory always rises in April, May, and June. It’s one of the highest selling seasons of the year, and buyers are usually out in full force looking for properties. What’s different about this year, though, is that we should see more inventory than normal. Why?
We recently sold a home for the highest price it’s ever been sold. Not long after that, I got a call from a neighbor of the person whose house sold for that record price telling me if I could get them a similar sale price, they would consider selling their home too. That tells me we’re starting to see a lot of sellers who weren’t planning on selling their homes deciding to do so anyway because of the prices.
Many of these sellers are working with agents who are pretty optimistic, and we’re starting to see list prices get very high. Just because inventory is low and demand is high doesn’t mean that buyers will pay ridiculous prices for a property.
Now more than ever, it’s important to price your home right. Look at the data, be mindful of what’s going on in your neighborhood, consider the market and the location and condition of your property, and factor in your competition. Your competition is growing, which means buyers have more choices.
If you’re truly motivated to sell, you’ll have to price your home right. If you do, you’ll get a great price for it.
If you’re thinking about selling your home or seeing what it’s worth in our current market, don’t hesitate to reach out to me. If you have a topic you’d like to see me discuss in a future video, feel free to send me your ideas. Until then, happy selling!