Top 5 Reasons to Sell a Home Today
In todayâ€™s market, there are many opinions about the condition of the market and whether or not it is a good time to sell. Despite what you may have heard on the local news, here are 5 great reasons to consider selling a home today.
The current number of homes that are available in our market has dropped to its lowest point since May of 2005. The monthâ€™s supply of homes for sale is down 21.6 percent from this time last year. Today, in our Arizona Multiple Listing Service (ARMLS) there are 12,251 active homes for sale. With 9,886 homes sale pending, this means we have just over a one month supply of homes for sale. The law of supply and demand, in our market, means you as a seller are in a very good position to sell your home, for top dollar.
Although property values are up on average 25 percent from this time last year, we are still far below what homes were selling for in the hype of the boom back in 2003-2005. If you have a dream home in mind, now might be the time to take advantage of low prices and make the upgrade before property values climb any higher.
In keeping with the law of supply and demand, the fact that we are seeing multiple offers on properties makes sense. And it makes even more sense that bidding wars mean more money in your pocket. More demand, or in other words, more buyers who want your home, the higher the dollar amount you get for your home.
With the economy making a comeback, new homes have returned to our market place. Builder permits are up on average 50 percent in the Phoenix market place. With low inventory, buyers are turning to new homes as an alternative to bidding wars. And as a seller, new homes create an unforeseen competition for you.
With just about a monthâ€™s supply of homes for sale, there is just not enough to meet the growing buyer demand. Recent studies done, report that despite the crash of the market and the negativity of mass foreclosures, most Americanâ€™s plan to own a home at some point. The sale of a home is the number one thing that stimulates the economy. In order for ourÂ economy to continue its rebound, more homes need to come into the market place. We need more homes to sell!
If you have been kicking around the idea of selling your home, here are the top 5 reasons you should consider selling now. The Russo Team has been serving Valley homeowners for over thirty years. My team and I have the local experience and skill you need to sell your home for top dollar. Donâ€™t miss out on the strong demand that exists in our market right now â€“ call us today!