If you've been considering selling your home, now could be the perfect time to take action. The current low inventory market presents an advantage for sellers, with less competition and a higher chance of receiving multiple offers. As reported by HousingWire, active listings have hit a new low in 2023, and the National Association of Realtors (NAR) confirms that the current housing inventory is low, with a 2.6-month supply at the current sales pace. Multiple offers are on the rise again (see graph below):
In a low inventory market, there is less competition from other sellers, which means your home will receive more attention from buyers. With more buyers than available homes, you may even receive multiple offers on your property, creating a bidding war among buyers. This gives you greater leverage to sell on your terms and maximize your profits.
To increase the chances of sparking a bidding war, it's essential to have an expert real estate advisor. While it's still a strong seller's market, today's buyers are more focused on the homes with the greatest appeal. Therefore, it's crucial to make your home as attractive as possible to appeal to as many buyers as possible. This can include ensuring your home is priced right, move-in ready, has curb appeal, and is located in a desirable area.
If you’ve been waiting for the right time to sell your house, low inventory this spring sets you up with a big advantage. Let’s connect today to make sure your house is ready to sell.
