Is Now the Right Time to Sell My House? 5 Factors to Consider
Believe it or not, 2023 could still be an excellent time to sell your home despite constantly changing market dynamics. In some places, selling now is a wise idea, especially if home prices continue to climb (or are at least not falling.) That’s how it is at Harbor Club since demand remains high. But deciding if now is the right time to sell your home doesn’t have to be daunting. Here are five important factors to consider before putting your home on the market:
Spring and summer = sell time
Historically, spring and summer are renowned for being the best times of year to sell a house. Buyers are ready to explore new housing options when the weather gets warm. So they are out, actively looking to purchase a home. Historically, June and July are the top months to sell a home in Georgia.
The law of supply and demand
As per the law of supply and demand, a shortage of housing inventory drives up demand and prices for available homes. Moreover, when the housing supply is low, homes on the market tend to sell much faster. Harbor Club homes are in short supply, yet demand remains high, making it an ideal time to sell.
Dreaming of downsizing
For those considering downsizing, now may be a good time to sell. When it comes to maintaining a larger, costlier home, expenses add up quickly. And for some, downsizing is especially helpful if stairs are too challenging or repairs are getting out of hand.
Does your current home suit your needs?
In what areas is your current home falling short? Perhaps your family is growing. Or you’re working from home and need more space for an office. Or you want your kids in a better school district. Or perhaps you’re tired of doing yard work. Whatever the need be, if your current home doesn’t meet your expectations, it’s an excellent time to consider a move.
Watch interest rates
As of this writing, mortgage rates for home purchases have been falling across all repayment terms, allowing buyers to save on interest. Rates for 15- and 30-year terms dropped more than a quarter of a percentage point, and 30-year rates are currently at their lowest levels since December 2022. When rates fall, it encourages more prospective buyers to enter the market, making it highly advantageous for sellers. Plus, more homebuyers could lead to bidding wars and drive up home prices, allowing sellers to make more of a profit.
If you’re considering selling your home, especially if it’s located in Harbor Club, our sales director, Kathy Phillips, offers unparalleled market knowledge, strategies, and services for getting your home sold quickly for top dollar. You’ve got nothing to lose and much to gain. Learn more and get in touch today.