Since the pandemic, the real estate market has been on a roller coaster ride. From a “feeding frenzy” as buyers offered over-asking prices to high interest rates stagnating sales, many Americans are unsure of the state of the market. Spring always brings new life into nature, and this spring brings life to the real estate market, too.
What Has Changed
This past Sunday on Mornings with Maria, Maria Bartiromo interviewed Katrina Campins about the state of the real estate market. From this six minute interview, you can glean a lot of information.
The biggest question you might have is, “What has changed?” Buyer confidence has increased due to a combination of lower mortgage rates and higher inventory of available houses. February sales are up 4%, which is encouraging to both buyers and sellers, because it indicates that March, April, and May will also be strong.
Best Time to Sell
One of the most interesting bits of information given in this interview is the best time for a seller to put their home on the market. Statistically speaking, if you list your house the week of April 13-19, you can expect to receive $27,000 more than at other times throughout the year. Very interesting! It has to be due to demand and your house hitting the market at the perfect time. That date is coming up so if you have been wanting to list your home, let the team at Goins Realty know. Of course, we cannot guarantee outcomes, but timing does play a role in real estate.
Realistic Expectations
Another issue discussed during the interview on Fox Business is that sellers need to have realistic expectations. The market will dictate the price of your home. When you expect too much for your property, it won’t sell quickly. Instead, it will sit on the market and you will most likely have to make price adjustments for it to sell. So work with an agent like Mike Goins who can help you price your home correctly from the beginning.
Spring brings life to the real estate market with more inventory, lower interest rates, and realistic prices. Now might be the right time to buy or sell if you’ve been sitting on the sidelines waiting. Call to discuss your options and your needs. We will be able to guide you in both your decision to list or to start house-hunting. According to experts, greener pastures lie ahead.