When it comes to the real estate market, many homeowners are wondering how to time their sale correctly. Should you wait to see where the market goes? Should you sell now and take advantage of rising home values? All of these are valid questions, but according to new data, your best deal could be waiting for you right now.
It all comes down to supply and demand. The concept of supply and demand is explained when the best price for an item occurs when the supply of that item is low and the demand for the item is high. Let’s take a look at how it applies to the current market:
When compared to years past, it is evident that the supply of of homes is at a lower point. According to Keeping Current Matters, a normal real estate market needs six months of housing inventory to meet the demand, but the supply of homes has been far below the number needed for over a year now. A recent report from the National Association of Realtors (NAR) shows that there is currently only around a 4 month supply of inventory— meaning inventory is very low!
While supply may be low, demand is very high. The most recent Foot Traffic Report shows the number of buyers out looking at homes and reported there are more buyers right now looking at homes than at any other time in the last twelve months. What’s more, this means more buyers are in the market now than at any time during the previous spring market!
It is not always wise to wait out the market, whether that means waiting to see where home values go or waiting until spring to list your property. That may have made sense in the past, but this market is entirely different and you could get the best deal if you act right now!
Give me a call today for next steps on listing your Metro Atlanta home!
I look forward to hearing from you!
Heineck & Company at Keller Williams Realty
Phone: (404) 418-9157
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