Four reasons why now is the best time to get your home on the market.
If you’re planning to sell your home in 2022 for top dollar, the time to list is now. Here are the four main reasons why:
1. Demand is stronger than ever. We can see where our demand is heading by looking at the number of showings homes are getting for both private showings and open houses. ShowingTime is a website that tracks the number of showings in our market. As you can see on the graph at 0:40 in the video above, demand is currently stronger than it was in 2021, which already had more demand than we’d seen in years.
2. Supply is very low. Each month, Realtor.com publishes a graph (which you can see at 1:00 in the video) that shows the present inventory. Right now, we’re seeing the lowest inventory we’ve had for a long time.
3. Transactions are at a 15-year high. Despite the low supply of homes for sale, the number of transactions has skyrocketed. We saw a 32% increase in sales in 2021, and 2022 is looking even stronger, even with the rise in interest rates and ongoing geopolitical tensions.
4. Prices typically peak by the third week of May. Seasonality, or the annual pattern of how prices and sales change throughout the year, tells us that prices will usually peak in May, then level off for the rest of the year. However, with interest rates growing, we may see prices soften in the second half of the year. Sell now while you’ll still get the highest price.
If you’re curious about the value of your home or want to sell, please reach out to us via phone or our website. We’ll be right here to help you create a better life through real estate.