Now Is The Perfect Time To Sell

Now is The Perfect Time To Sell

Over the last year COVID-19 created a lot of uncertainty. Which has had many homeowners wondering whether now is the perfect time to sell their home. Yet there have been many out of state buyers anxious to move from their own state to other areas in the USA. Florida is a big winner for relocation buyers!

Well, as it turns out, now isn’t just a good time to sell your home, it is now is the perfect time to sell.

A recent article from realtor.com outlined the top reasons why now is the perfect time to sell your home, including:

• Demand is high and inventory is low. After months of being stuck at home due to COVID-19, buyers are emerging ready to make a purchase. But there aren’t enough homes on the market to keep up with the buyer demand. According to realtor.com’s market outlook housing inventory was down 27 percent year-over-year in June. Fewer homes mean more buyer demand, and higher prices for sellers. Here in the local Gainesville FL market, we are sitting at historical low inventory. This is driving prices up.  The high buyer demand is creating multiple-offer and or bidding wars!
• Mortgage interest rates are low. Mortgage interest rates are at an all time low. According to data from Freddie Mac, on August 6, average interest rates hit 2.88 percent for a 30-year fixed rate mortgage. Buyers are scrambling to lock in those low interest rates (and save big money in the process). Pre-approved buyers are making it an ideal time for sellers.
• The economy is showing signs of recovery. There’s no denying that COVID-19 initially sent shock waves through the economy. But unemployment is starting to trend downward, meaning more people are getting back to work. And more people may be in the economic position to purchase a home. “Data from May and June suggests that businesses are adding back jobs as consumers get back to spending, and some companies are now scrambling to keep up demand,” realtor.com’s chief economist Danielle Hale said in the article. “Some speculated that we’d see a sharp bounce back in activity, and I think it’s fair to say that’s what we’re seeing so far.”

The point is, there hasn’t been a more seller-friendly market in years—so if you’ve been thinking about selling your home, now is the perfect time to make a move.

Curious on Your Home Value?

Please call and let’s discuss the current market value on YOUR HOME !  You can make a request for a current market analysis on your home at this link.  We want to be YOUR Realtor in Gainesville FL.