The current housing market is significantly influenced by the number of homes available for sale. If you’re contemplating whether to list your house, the limited supply presents a distinct advantage. Your house is more likely to stand out amidst the low inventory, particularly if it’s priced appropriately.
However, the supply of homes for sale is gradually increasing. Recent data from Realtor.com reveals a positive trend in new listings, with homeowners increasingly putting their houses up for sale (refer to the graph below):
Realtor.com provides further context:
“March saw a 15.5% increase in newly listed homes compared to last year’s levels, marking the fifth consecutive month of increased listing activity following a 17-month decline.”
What This Means for You
If you’ve been hesitant about selling your house, it might be time to reconsider – before your neighbors do. While we’re not expecting a sudden surplus of homes for sale, each new listing in your area could potentially divert buyer attention from your property.
For instance, if your neighbor decides to list their house, you’ll be facing competition right next door. The last thing you want is for potential buyers to tour your house only to fall in love with a different one. Your property deserves to be in the spotlight.
An experienced real estate team like Brenner | Hill can ensure this. We can assist you in preparing your house for listing, highlighting features that today’s buyers value, and pricing it competitively. This approach can attract buyers to your listing and motivate them to make it their home.
If you’re prepared to sell now, you have the opportunity to benefit from the best of both worlds. The growing supply of homes for sale means you’ll have more options for your next move. Simultaneously, you can sell while your house still stands out from the crowd.
To Sum It Up
Despite the current low inventory, it’s not advisable to wait for more competition to emerge in your neighborhood. Let’s discuss the advantages of selling before more homes enter the market.
