APRIL 2024 - Its a Sellers Market!
Besides seasons (Spring and Summer are great months to sell!), there are other factors to consider if you're thinking of selling in 2024.
A shortage of housing inventory — which is the case currently in the Capital region — also drives up demand and prices for available homes. And when housing supply is low, homes on the market tend to sell faster as buyers are forced into multiple offer sale situations, where sellers can pick and choose.
Downsizing may be a more budget-friendly choice than continuing to maintain a larger, costlier home. For older homeowners, downsizing may even be a necessity.
If you’re relocating to a new state for a job or want to enjoy your retirement in a new area, and you need the profits from the sale to put toward your next place, selling may be unavoidable - and its a great time to do so, if you have somewhere else to go!
If you're a cash buyer without plans to finance your next home, or you have enough equity in your existing home that you can 'buy down' your next mortgage to an attractive level, go right ahead. Cash buyers still wield a lot of power in this market!
If you're not convinced about selling, may get an appraisal done on your home, and see what the current market value is. You may be pleasantly surprised!