I've been "real estating" for 29 years now. Every time that annivesary comes and goes it takes me a while to adjust to that new number.... it's sort of like birthdays these days. Hard to believe I'm THAT old and have been in real estate for more than half my life now. just wow.
Speaking of wow, the point of this post, in my 29 years of real estate I've never seen a sellers market quite this strong. In my view there are a few reasons for the robust seller's market we're having at Lake Sinclair.
- COVID19- I'm sure you are saying "WHAT!?", but the fact is we had sellers who are in high risk age, or high risk because of health conditions both take their homes off the market or are waiting until they deem it a safer time to let people in to view their homes. Beyond that if people are "working from home" it is a much nicer place to work from home at the lake than other places.
- Social unrest in urban areas- Again you might say "how is this helping sellers?" Well we live in an area that is rural with most lots approaching an acre and away from cities and riots we see on the news so people are looking to either have a new home front ot at least a second home in our quiet lake life style.
- Interest rates under 3% for 30 years- Buyers have more buying power with these historical low rates and it's put more people in the market qualified to buy even with increasing values that more buyers equals less inventory.
Today on Lake Sinclair there are 51 available listings. 59 closed in the last 30 days and a whopping 71 are under contract. That's right, both more closed in the last 30 days than we have active and way over the available are the ones pending.
So what does that mean for you? It means when I say "I'm going to sell your house this weekend" I actually mean it. I'm fairly certain neither of my sellers actually believed that was going to be case, but one went pending Saturday night and the other Sunday afternoon. Listings were signed on Friday.
In other important news.... we are protecting our sellers spaces as much as can, we're providing masks when needed, wearing masks when needed, using shoe covers in our listings, offering buyers fresh gloves for each new showing to keep their germs off your cabinet doors and door knobs. We're working hard to protect our sellers and their homes.
Prices are certainly changing for sellers. A price you could obtain a home for as little as two months ago probably wouldn't fly today. We've had buyers in bidding wars with as many as 5 other offer in the past couple of weeks. We've also managed to get 5 buyers under contract with get negotiating strategies in the past week. We're on top of the market and keeping up with inventory and even out searching for the right home for our buyers when it's NOT yet on the market. Call us to see what your Lake Sinclair home is worth today. 706-485-9668 Or click on the "what's my lake sinclair home worth?" tab on our site and we can do a CMA for you, no cost or obligation.