When selling your house, you’re likely navigating the delicate balance between prevailing market conditions and your requirements for relocation.
A potential advantage in your favor is the scarcity of homes for sale at present. Let’s delve into the current inventory scenario and its implications for you.
The Current Inventory Situation: A Rare Opportunity
When it comes to selling something, having high demand coupled with low supply is a winning combination. Why? Because scarcity amplifies desirability; when there’s not enough to meet demand, interest spikes. This scenario perfectly mirrors the current state of the housing market.
The number of prospective buyers exceeds the available homes for sale.
To illustrate the severity of the inventory shortage, consider the latest data on active listings—the homes currently available for purchase. The graph below, sourced from Realtor.com, depicts the contrast between the number of active listings in September of this year and the usual market figures.
As depicted in the graph, a comparison between the market’s performance in the last typical years (illustrated by the blue bars) and the current figures for this year (represented by the red bar) reveals a noticeable gap, indicating that inventory levels remain significantly below the usual standards.
What This Signifies for You
With fewer options available to buyers compared to previous years, selling today can offer remarkable perks. The scarcity of homes on the market means that well-priced properties are in high demand, leading to quick sales and multiple offers from enthusiastic buyers. This trend is underscored by the latest data from the Confidence Index provided by the National Association of Realtors (NAR).
- Nearly seven out of every ten homes were sold in less than a month.
- On average, recently sold homes received six offers.
According to an article on Realtor.com, the reduced inventory of homes for sale can work in your favor if you’re looking to sell. In the past month, homes spent an average of two weeks less on the market compared to the typical September between 2017 and 2019. This trend is attributed to the continued scarcity of available homes, prompting eager homebuyers to make quicker purchasing decisions.
Bottomline:
Given the high demand for homes in today’s market, prospective buyers are actively seeking more options, and your property might just fit the bill.
Get in touch with me so we can list your house competitively for the current market conditions. This could pave the way for a swift sale and the potential for attracting multiple offers.
Visit www.freemanwangteam now for Guaranteed Leads, Income Growth, and a Career Revolution!
Freeman Wang
Team Lead at Freeman Wang Team with Your Home Sold Guaranteed Realty
+1 6265245021
Fwang@YourHomeSoldGuranteed.com
