Just in case you haven’t heard, the real estate market if hot. There are a lot of buyers out there actively looking for homes as we speak. As a seller, your biggest fears when it comes to selling are that your home sits on the market for months, and that you won’t be able to get the money you are looking for. If you are thinking about selling a home, now is the perfect time for you to do so. Let me show you 3 reasons why you should think about selling your home today.
No Competition
The inventory for homes is still very low in today’s real estate market. There just are not many properties for sale. However, there are a lot of buyers out there that are looking for homes to buy. This means that if you wanted to put your home up for sale, you would have little to no competition. Having a low inventory of homes also means that the average market time for homes has dropped. In other words, homes are selling faster. You should not have to worry about your home sitting on the market for long!
Prices are Increasing
The average price of homes has increased steadily over the past few months. Even with the pandemic, the price of homes in Chicago has increased over 5%, and continues to rise. The higher the prices are, the more money in your pocket when you sell your home. Combine this with the fact that buyer demand is so high, and you get a great opportunity for sellers who were thinking about cashing out on their home!
Interest Rates are Historically Low
The reason that buyer demand is so high is because of historically low interest rates. That makes it easier and more affordable for buyers to get a mortgage. This is also great for sellers who want to sell their home and buy another one. Thinking about buying a bigger home because of your growing family? Maybe you want to sell your home because your children are grown, and you no longer need that large home? Today’s market conditions make this the perfect time for you to make that move!
Please feel free to reach out to me here with any questions or comments. Thanks and have a great day!