Want Top Dollar for Your Home? The Time To Sell Is Now.

 Want Top Dollar For Your Home? The Time To Sell Is Now.

Ella M Taylor, Realtor

When selling any item, you usually want to sell it for the greatest profit possible. That happens when there's a strong demand and a limited supply for that item. In the real estate market, that time is right now. So, if you have goals and the equity in your home can help you reach them, read about the two most important reasons why now's the time to list. 

1. Demand Is VERY Strong

Typically, spring, is the busiest time of year for homebuyers and sellers. But the home shopping season has been in full swing since winter! This claim is backed up by data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals that this past December was the most active December in five years.

As the data indicates, buyers have been active all winter. Last December saw even more showings than December 2020, which was already a stronger-than-usual winter. And remember - you want to sell something when there's a strong demand for that item. That time is now.

2. Housing Supply Is Extremely Low

Each month we review data from the MLS (multiple listing service) on the number of active residential real estate listings (listings currently for sale). The most recent report reveals the number of listings we had in January 2022 is the lowest we've seen in any January since 2017. (see graph below):

And don't forget, the best time to sell an item is when there's a limited supply of it available. This graph clearly shows how extremely low housing supply is today.

Even Though Supply Is at a Historic Low, Home Sales Are at a 15-year High.

According to the latest report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 - the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.

The-Bottom-Line

If you agree the best time to sell anything is when demand is high and supply is low, contact me, your local real estate professional, to discuss listing your house today.