Agents say a seller’s market is upon us
Thinking of selling your house? You might want to hop on it. According to a new survey of real estate agents, it’s a seller’s market — and you’ll face less competition as a result.
Is now the time for selling a house?
According to a new survey from real estate referral site HomeLight, the majority of real estate agents think it’s a seller’s market, meaning home sellers have an advantage over their buyer counterparts. Only a mere 8 percent of agents say it’s a buyer’s market.
Inventory is what’s really working in sellers’ favors. According to agents, about half of whom say their local inventory levels are lower than they previously expected.
If you do decide on selling your house, consider upgrading your appliances to stainless steel first. The bulk of agents say these are most popular with today’s buyers and can help you garner more bids. They also recommend cleaning your gutters and being flexible with showings to increase your chances.
The price is right
Despite the prime conditions, home sellers shouldn’t expect a windfall. Agents largely expect home values to stay steady or even decline over the next few months, and more than half say bidding wars are down in their area.
As HomeLight’s COO Sumant Srudharan explains, pricing right is key in the current market.
“Most homeowners are under the impression that spring is the best time to sell your house, but top agents reiterate that buyers are still motivated right now due to historically low interest rates,” Sridharan said. “With low inventory, sellers have less competition, and if they price their home right, they could really benefit from listing this fall.”
Get today’s mortgage rates
Are you thinking of selling your house and upgrading to a new one? Then shop around and see what mortgage rates you qualify for today.