Many people who are looking to sell their homes ask me this great question all the time. "When is the best time to sell my home?" And my answer? In today’s market, the sooner you can sell, the better!
In Puyallup, we are still experiencing a shortage of available homes, with only about a three month supply of inventory. New listings have been receiving immediate attention and activity, and if a home is priced correctly, its chances of receiving an offer soon after hitting the market are excellent! Are you wary of selling because your home needs a bit of updating? Good news on that front, too— Puyallup is experiencing a “perfect storm” right now in that anything and everything is being snapped up.
Because of the lower inventory, sellers have a better chance of selling more quickly and for top dollar. When there’s a lower inventory, there’s less competition overall (and in Puyallup right now, this means less competition from newer homes, too!).
If you're thinking of selling your home, definitely explore the benefits of doing so now. As always, feel free to give me a call (253-380-7702)— I can empower you with the information you need to make the best decision for you and your family!
For great information and continued updates about the housing market, keep RISMedia on your list of best websites. Written in a reader-friendly fashion, this site shares the most recent statistics with regard to growth and predictions. RISMedia recently shared that after a promising year of double-digit price increases in many areas of the country, the experts predict that prices will more moderately rise as we see additional inventory on the market. With rates remaining favorable, it's still a great time to buy. With inventory still relatively low, it's an ideal time to sell. Win-win for buyers and sellers!
If you've never visited the DQ (Data Quick) News website, you should take time to do so! This gem of a site develops a quarterly report that allows you to find some great data specific to your neighborhood's zip code. It will answer questions like "how much has the median value for homes appreciated/depreciated compared to the same quarter a year ago?", and "what's the percentage of change (down or up) in sales volume in my neighborhood compared to the same quarter a year ago?" For example, in my South Hill Puyallup neighborhood where the zip code is 98374, DQ News (Quarter 2) reports that the median sales price is $224,475, which represents a 7.4% increase over the same quarter in 2012. Sales volume of homes is up 29.2% over this same quarter last year. This is great evidence that the market is appreciating. Sellers, the message is now is a great time to sell, if it's an appropriate time for you. Buyers, the bottom of the market has come and gone – if you are serious about purchasing a home, now's a great time to move forward!
Have you heard? Rates are at an all-time low again, this time in the 3's! Attached is a chart that provides evidence of current historic rates. For buyers, this means you can buy a little more house or it may mean that you can save a few dollars if you stay at your chosen shopping price. But don't delay – inventory continues to shrink and sales volume is rising. The good news for sellers is that this means you can "dig your heels in" a bit and hold to your asking price (provided it's in the range of where you will appraise). But negotiate wisely, as appraisal value doesn't always match market value. Let the negotiating fun begin!