We are in the ultimate sellers’ market right now in the Dallas-Fort Worth area where the real estate market is expected to continue “booming” in July. When it comes to supply and
Five Reasons Why NOW is the Right Time to Sell
Dated: October 30 2020
As the end of 2020 nears, it is uplifting to know that despite all our struggles this year, there is great news for homeowners: our real estate market is amazing. That’s why we want to show you five reasons why NOW is the right time to sell.
- Demand from homebuyers has increased.
- Number of homes for sale is down.
- Homes are selling faster.
- Waiting to sell could hinder your success.
- Median home price is up, and is expected to continue.
First, demand from homebuyers has risen this year. Homebuyers are currently competing in bidding wars, driving home prices up. As a seller, this may mean more money for your home.
Second, the number of homes for sale is down. Active listings in Tarrant County dropped 37.5 percent in September 2020! Due to the shortage of homes for sale, buyers are willing to pay more.
Third, homes are selling faster. Homes spent an average of 33 days on the market, three days less than in September 2019.
Fourth, this ideal time to sell that we are in won’t last forever. More sellers typically come to the market in the spring, meaning buyers will have more choices, so your home may not stand out from the crowd or sell for as much money.
Fifth, the median home price is up. In fact, the median price for Tarrant County homes increased 10.4 percent in September 2020 from last year and home sales increased 20 percent. That demand is expected to continue, meaning your home value (or new home value) is also expected to continue to rise.
The economic slowdown from the pandemic in 2020 didn’t negatively impact housing. In fact, it increased home prices in North Texas. Experts agree we will likely see home values rise even higher given the continued lack of inventory. With this low supply and high demand, homes should continue selling fast and for top value. However, waiting to sell may hinder your success.
Contact us to discuss why NOW may be the right time to make a move. Interested in your home’s value? Click here for a Free Home Market Analysis!
Deanna has degrees in Communication and Journalism and over 25 years of experience in customer service, advertising, marketing, communication, instruction, training, and public speaking. With this ba....
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