Should I Sell My House?

Should I sell My House? If you're thinking about selling your Arizona house, there may not be a better time to list your home than right now. There isn't any good way to predict the future, but it seems like there are more buyers than ever right now.

If you're looking for someone serious about buying your house, put it up on the market! Whether you are contemplating selling your home fast or are still deciding which home to buy, selling your house is one of the best ways to cash in on equity or move up.

 

1. Yes, your house will likely sell quickly.

The home-buying process can be stressful, but it doesn't have to be. Realtors are more confident about the current market than ever before. If you're ready to sell your home, you might find it easier than ever before with these recent trends. The national average is 17 days on the market. 

How long does it take for a home to sell? The answer to this question often varies. The average days on the market with an agent is a strong indicator of buyer demand. However, if homes are selling quickly, buyers have to act fast or risk losing out on the home they want.

 

2. Buyers Are Willing To Compete to buy your house

In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers see an average of 4.5 offers, and they're competitive ones. The graph shows the average number of bids right now compares to previous years:

The increase in home sales has caused an increase in competition. With higher demand, buyers are more willing to pay. The graph below shows how the average offers are increasing by the year.

Real estate chart on average number of offers on a home in 2021 vs other years

Buyers are becoming more aware that bidding wars may occur, so they've learned how to prepare an offer. Now they can feel confident if several offers land on your doorstep because you have plenty of options!

 

3. When there is a low quantity of an item, your property is in the spotlight.

There are plenty of options for homeowners looking to sell their homes, but one of the biggest challenges is collecting enough qualified buyers who can afford your asking price.

Real estate market conditions have become difficult because there are so many buyers for the limited home inventory. Low inventory has made it challenging for buyers to find a home they can afford and often leads to frustration. With the list slightly growing, the demand for homes will remain strong.

Though inventory is low, the rate of decline is slowing down. This points to an eventual reversal in demand, either due to homeowners purchasing more homes or selling their existing homes. The light blue indicates fewer homes on the market which tells us that need may be peaking.

 

Arizona real estate chart months of inventory

 

Buyer demand is the driving force behind real estate prices and listings. If you're looking to sell before more listings come to the market, now might be the perfect time to start marketing and listing your house on a popular site scottschulte.com.

 

4. Wanting to Move Up? 

Homeowners look for opportunities at home when they're ready to move and take advantage of low rates. They can then use that money in their new move-up homes in addition to building equity and increasing their wealth.

Is now the perfect time to take advantage of low mortgage rates as they will be hard to match later? You can use your current equity plus low rates as a catalyst for making this change now.

Situations change, what if rates go up?

The experts at Freddie Mac released a forecast of how interest rates will increase over the next three years. This, although not surprising, is an interesting perspective on what to expect in the future.

Small spikes in rates, the monthly payment can impact your ability to make purchases and ultimately your spending power.

 

5. Your needs have changed

A significant amount of home buyers and real estate investors are on the hunt for buying and selling their homes this fall. The Arizona housing market is booming, and there is a high demand for homes to purchase.

looking at some of the many reasons you should consider selling your home this season:

  • You're looking for a new place to live.
  • You've outgrown your current abode.
  • You want to downsize your Arizona home and move closer to work or school.
  • Your children have grown up and you need a different type of home.

Bottom Line

Scott Schulte, a real estate agent in Arizona, and has been helping sellers sell their homes for almost 17 years. He is passionate about his job and knows the ins and outs of the real estate industry. He believes that every seller deserves to feel confident and comfortable with their sale.