Big Incentives: Reasons for Dayton Homeowners to Sell Now
The housing market is very lucrative right now. The only thing that may slow the success of the current market is a very low inventory. There were 410,000 fewer single-family homes for sale this March than in March of 2020 at the beginning of pandemic lockdowns. The key to a continuing healthy real estate market is for more listings to become available.
There are many reasons that homeowners who would have considered selling their home or are considering selling are holding off on listing their home right now. While these reasons are understandable, there are also several great benefits to selling a home right now as well.
Sellers Have Tremendous Leverage Right Now
In a negotiation such as that of selling a home and coming to an agreement with someone who wants to purchase a home, leverage is the power one side has to influence the final outcome. In real estate, a party’s leverage is based on the ability to award benefits or eliminate costs on the other side. Today’s current buyer needs are allowing tremendous leverage for sellers. This makes it much easier for sellers to be able to sell a home on terms that are more beneficial to them.
Highly Likely to Sell at or Above List Price
Since the inventory is so low this is leading more buyers to be interested in the exact same homes. The average home is now receiving 4.8 offers according to data from the first quarter of 2021, in the first quarter of 2020, that number was 2.4. We can all agree this is much higher than just a few years ago when homes most often saw one offer. This means that it is highly likely you will receive an offer to purchase your home at or above the full list price as buyers try to compete with one another to be the one with the accepted offer.
Many Homes are Selling without Renovation
When you are getting ready to list your home it is always best to get it in good shape, but some homeowners who have homes in a larger state of disrepair become concerned with being able to afford repairs/renovations/expensive updating in order to get their home ready. With so few homes available for sale, more buyers are willing to look beyond turn-key homes to be able to find a home with the features they are searching for.
Homes are Selling in Less Time
The waiting period from listing your home to accepting an offer and entering pending status can be stressful, especially when it comes to having the home always clean and ready for in-person showings. Today the average home is selling in just 18 days and in very desirable neighborhoods some homes are selling just a few days after they are listed. No long lengthy period of hoping and wishing and keeping the house super clean.
Selling a home is never without a hiccup or something that seems stressful, even in a seller’s market. However, selling a home in a strong market is much less of an ordeal and can possibly make you enough money to afford that next home you have been dreaming about.
For more information on buying or selling a home in Dayton Ohio please contact us at any time.