Supply and demand of homes is one of the things we look at to determine what market trends are like and how to approach home buying or selling. Right now, supply and demand trends are perfect for sellers, so now is the time to get in touch with a Wellesley real estate.
Home inventory statistics can help sellers understand what kind of market they are entering and whether or not they are likely to sell their home quickly. A market with a high inventory will be more competitive for sellers, as buyers have more options.
According to the National Association of Realtors (NAR), the number of homes listed for sale increases significantly during the summer months. This chart illustrates the number of homes listed for sale throughout 2013.
Looking at the chart, you can see that from January through June, there were relatively fewer homes on the market. Right after the holidays and while it’s still cold and the weather isn’t ideal for high curb appeal, many people decide to wait and sell their homes later.
Starting in July, inventories increased as more sellers found the time to prepare their homes and were able to enhance the way they looked from the outside.
This trend reveals that if you wait to sell your home you will be facing much more competition. In the coming months, buyers will have more homes to choose from so you’ll be competing with other homeowners for their attention and even for offers.
Leverage Supply and Demand
Since it will be harder to sell your home in the summer when more homes are on the market, you can leverage supply and demand by listing your home for sale now. When you list your home now, you will beat the rush of other sellers who will add their home to the market this summer.
The local market is moving very quickly and many homes are selling in days, instead of weeks or months. Many sellers in this area are also getting multiple offers, meaning you could get more for your home if you sell it now.
This is excellent news for sellers, but it highlights the fact that it’s vital to work with an experienced real estate agent. Your agent will help you make your home stand out, increase its curb appeal and help you list and market your home. Another benefit of working with an agent is that you’ll have a professional ready to show your home and even negotiate with buyers if needed.
Since home inventory is expected to increase in the next few months, now is the time to list your home for sale. Your listing will stand out and you will face less competition, meaning you’ll be more likely to get multiple offers and sell your home for more.
You can find more information about current market trends on the Christine Norcross & Partners website. To beat the rush of listings and get your home on the market quickly, contact Christine Norcross at 781-929-4994. We can help you list your Wellesley home for sale, show it and sell it for what it’s worth or even more.
Image courtesy of KeepingCurrentMatters.com.
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