So here we are in May already. The spring real estate market has begun, however….
Inventory is low. There aren’t enough properties on the market to meet the needs of buyers. Realtors are seeing multiple offers, bidding wars and buyers deciding to wait. Is now a good time to list a house for sale? The short answer is Yes. It is a seller’s market and it will stay that way for a while. Many properties are only listed for a few days or a couple of weeks. Closings are happening faster and the need for inventory replenishment is high. Once a contract is made, it generally takes 30 days to close, sometimes less.
Let’s try this scenario: A seller puts their house on the market on May 1. By May 30 the seller has a contract and a closing date of June 30. Sixty days total. Ideal? Yes. Right now Realtors are seeing contracts in as early as 2 days. Ready to move this summer?
I would be remiss if I did not say that not all home sales will go this way. There are many things that are needed in order for that scenario to work out. I can not express enough that the right pricing is key. Listen to your Real Estate Professional when they are advising about pricing. They are a professional after all. Make the property available for showings at any given time, make sure house and grounds are clean and free of hazards, ensure pets are managed and there are no objectionable odors (that includes over perfumed). Of course these are only a few of the many things that help with a sale.
Thanks for reading.
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