The number of homes for sale plays an important role in today’s real estate market. And if you’re considering whether or not to list your home, today’s limited offer is one of the biggest advantages you have right now. After all, when inventory is low, your home will stand out, especially if the price is right.
However, the supply of homes for sale is increasing. New listings (owners putting their homes on the market) are on the rise, according to the latest data from Realtor.com (see chart below).
This graph shows more homeowners are putting that sale sign up in their yards compared to the same time last year. As Realtor.com says:
“. . . sellers turned out in higher numbers this March as newly listed homes were 15.5% above last year’s levels. This marked the fifth month of increasing listing activity after a 17-month streak of decline.”
What does this mean to you?
If you’ve been putting off selling your home, it’s time to think ahead of your neighbors. There may not be a lot of homes for sale all at once, but every home in your area that comes on the market risks taking buyers’ attention away from you. For example, if your neighbor gets in on the act and lists his house too, that means there is competition nearby. You don’t want buyers to tour your home and fall in love with someone else’s. You like to be in the spotlight.
A good agent can do that. We help you prepare your home for sale, show you everything today’s buyers are looking for, and help you determine the right price. This will make buyers feel attracted to your listing and want to make it their own. If you can and are willing to sell now, this is your chance to get the best of both worlds. As the supply of owner-occupied housing continues to grow, there are more opportunities for direct occupation. But you can still sell your house while it’s a special time.