If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:
“Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”
Yun goes on to say:
“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies.
As a potential seller, you are in the driver’s seat right now. Call or text me if you’re ready to hit the gas!
About Carol Juntunen: I'm a Realtor® with Baird & Warner in the Chicago area. My intention is to provide insights and information to empower you to make confident, informed real estate choices and decisions, and guide you through the home buying and selling process. How can I help you achieve your real estate goals? Ready to buy or sell? Call or text me today: Cell: 224-523-2217 Website: www.caroljuntunen.com Email: firstname.lastname@example.org Designations: Certified Probate Real Estate Expert (CPRES) Seniors (50+) Real Estate Specialist (SRES) Certified Negotiation Expert (CNE) Pricing Strategy Advisor (PSA) Certified Staging Consultant (CSC) Internet Marketing Expert (e-PRO)