Every year you'll hear us say to not wait until Spring to sell your house. But it's never been more true than in 2021. Yes, Spring IS the prime selling season - traditionally. Buyers are house-hunting year round, however, and nothing about the current housing market has been traditional!
Record-low interest rates (sounds like an overused phrase but a true one!), an itch to move to a new space that has what the old one is lacking, and a new generation of home buyers but very cautious sellers has off-set the traditional cycle.
The number 1 reason why you should not wait until Spring to sell is: we need listings! There's little to nothing to show to the buyers that are actively house-hunting.
If selling your current home is on your agenda for this year, take advantage of the current climate. While buyer traffic has remained pretty stable, listing activity is way down. There's little to no competition!
Consider the January sales statistics provided by the Maryland Association of REALTORS:
1. the current active inventory is 0.8 month, which means: if no new listings were added to the market, it would take LESS than a month to sell all homes on the market. We consider anything less than 3 months to be favorable for sellers. The months of inventory a year ago was 2.5.
2. active inventory is 6,763 (give or take a few) as compared to 18,367 in 2020 - that is 2/3 LESS
3. the median days on market (the time it takes to go from Just Listed to Pending) is also 2/3 less: 10 days compared to 30 days just a year ago
Proper preparation (yes, that is still necessary!) and effective pre-marketing will set the stage and get buyers excited about your home! Little to no competition will result in a number of showing appointments before you even go active, a few busy days of a showings, multiple, competitive offers, and a contract with the best terms for you!
Record low inventory is the number 1 reason why you should not wait until Spring to sell your home. Little to no competition will ensure the spotlight is on your listing!
Ready to get started? Experience matters. Call me today at 240.593.2860 to take advantage of this prime seller's market.
