If you have been considering selling your home, here’s why you should list now instead of later.
Over the course of the past few years, sellers have taken a real beating but that is starting to change. There are currently buyers out there trying to take advantage of the great mortgage rates before the anticipated rise in rates by the end of this year. Here’s a link to my blog on where mortgage interest rates are headed and why you should buy a home now.
The New Castle County December numbers are out and we have seen an increase in both the median sales price compared to last year and the list to sales price ratio.
Here’s the important news, listing inventory and single family homes inventory are both down over 30% for the year! In addition, closed sales are up almost 15% for last year. Coupled with those statistics is the fact that days on market have dropped by over 10%.
As a seller, it is vital to get ahead of the curve. The spring will be here soon and with it we will see an increase in inventory. As mortgage rates start to creep upwards, buyers who could have afforded your home will be pushed out by the higher rates. With the increased competition, you will have a tougher sale on your hands.
If you list now, your home could already be sold by the time spring rolls around!