Just in time for spring....The real estate market is really hopping a long. Buyers are out looking for their perfect place before the possible rate increase and inventory remains at a low. Those two factors are making the market hot for sellers.
They say timing is everything and real estate is no exception. According to Zillow, the best time to list a home in the Washington and Baltimore metro areas is April 1st to April 15th. Homes in the Baltimore area sold 21 days faster than the homes listed any other time of the year. In the Washington market houses went off the market 15 days faster when listed during this time. What does this mean to you? You know the saying... time is money. In this case, the longer your house stays on the market the less money you will get for it. So it's best to hit while the market is hot. Zillow says listing the home at the right time can get you anywhere from $2000 to $5000 more for your home.
What's behind the trend? It's all about supply and demand. Buyers are out during this time of the year. This year lots of buyers are out looking for homes in hopes of beating the possible rate hike. A lot of sellers haven't put their house on the market. So the inventory to chose from is low. So the houses that are well priced and ready to sell are in demand. This year we have really seen this. We have a lot of buyers looking for homes now but what they want is not on the market. The sellers that are on the market are seeing a lot of activity and are getting offers faster. In many cases, multiple offers.
If you are thinking of selling your home, I would love to talk with you.
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