There really is never a wrong time to sell your home. Contrary to popular belief, if a home is priced correctly it can even sell during the dead of winter. While each time of year has a different set of reasons why it might make sense to sell your home, there are a few certainties why NOW is the time sell.
1. Low Inventory
The first few months of the year tend to show a lesser amount of homes available for sale. This is certainly the case for 2017. When looking at January’s statistics, there were a total of 6,559 homes either active, pending, or closed during the month as a whole. This is significantly less than the 6,944 homes that were either active, pending, or closed during December 2016. The number of homes during November 2016 was even greater than that, so a steady decrease can be seen when observing month-to-month statistics. There is always a demand for quality properties, so a decrease in homes available potentially creates more competition for buyers.
2. Increased Average Selling Prices
When there is a lower inventory count on quality properties, it is not uncommon for higher sales prices to follow. The competition between buyers oftentimes boosts the amount of money presented with an offer. Using January 2017 as an example, the Louisville area saw an average selling price of $195,946 for single family residences and condominiums. This an increase from the $193,535 seen during December 2016. It’s an even greater increase when comparing to the average selling price of January 2016 ($187,380). So you can see that now is a great time to sell when looking at price averages throughout the area.
Curious how much your home could be worth? Let us run a free Market Analysis on your home!
3. Beat the Spring Rush
The spring months are typically when activity picks up in the real estate market. There tends to be an increase in volume of homes for sale, so competition logically picks up as well. This is why selling your home BEFORE the rush can give you a big advantage when it comes to less competition between sellers.
It’s not hard to see why selling your home NOW could be beneficial. There’s no need to wait for the warmer weather when there is still a lot of activity on the market happening as we speak.
Are you thinking of selling your home? Contact Pam Ruckriegel with Louisville Real Estate Pros at Keller Williams Realty Louisville East today. She’s the best real estate agent for the job! 502-435-5524.