We understand that there's a lot being said about the real estate market these days. Some people say it's on the up and up, others are saying there's a down turn, it's difficult to know where everything stands. But to straighten some facts out, right now is a true seller's market. Homes are selling at or above their listing price, and commanding higher prices than most would expect. The culprit? Low inventory.
Currently there are plenty of buyers looking, filling up open houses and shopping around, but owners seem to be reluctant to sell. With such low inventory, homes are selling quickly and often, as stated above, higher than the listing price. At The Charles Realty, we've seen well over half our listings in the past year sell in a week or less. We're experiencing the high demand, first hand.
Potential sellers may be holding out, thinking that they'll wait until they believe property values are at their peak, but this approach could fail. If many home owners are looking at the housing market the same way, property values will all drop if everyone decides to list. So the lesson we have here, is that if you're considering selling, don't wait, put your property on the market as soon as possible. It should be a pretty easy process, seeing as homes are moving so quickly.