Reasons You Should Consider Selling This Fall

Dated: September 10 2021

Views: 352

Reasons You Should Consider Selling This Fall

Reasons You Should Consider Selling This Fall | MyKCM

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers' market we're in today won't last forever. If you’re thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly

According to the Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly – on average, they're selling in just 17 days. As a seller, that's great news for you.

Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in.

2. Buyers Are Willing To Compete for Your House

In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers are seeing an average of 4.5 offers, and they’re competitive ones. The graph below shows how the average number of offers right now compares to previous years:Reasons You Should Consider Selling This Fall | MyKCMBuyers today know bidding wars are a likely outcome, and they're coming prepared with their best offer in hand. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When Supply Is Low, Your House Is in the Spotlight

One of the most significant challenges for motivated buyers is the current inventory of homes for sale. Though it’s improving, it remains at near-record lows. The chart below shows how today’s low inventory stacks up against recent years. The lighter the blue is in the chart, the lower the housing supply.Reasons You Should Consider Selling This Fall | MyKCMIf you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time

If your current home no longer meets your needs, it may be the perfect time to make a move. Today, homeowners are gaining a significant amount of wealth through growing equity. You can leverage that equity, plus current low mortgage rates, to power your move now. But these near-historic low rates won’t last forever.

Experts forecast interest rates will rise. In their forecast, Freddie Mac says:

“While we forecast rates to increase gradually later in the year, we don't expect to see a rapid increase. At the end of the year, we forecast 30-year rates will be around 3.4%, rising to 3.8% by the fourth quarter of 2022.”

When rates rise, even modestly, it’ll impact your monthly payment and by extension your purchasing power.

Bottom Line

Don't delay. The combination of housing supply challenges, low mortgage rates, and extremely motivated buyers gives sellers a unique opportunity this season. If you’re thinking about making a move, let's chat about why it makes sense to list your house now.

Blog author image

The Allnutt Group

We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why our team of highly-seasoned real estate professionals is dedicated to provi....

Latest Blog Posts

Thanksgiving Weekend Events

UPCOMING EVENTS& REAL ESTATE TIDBITSAnnual Holiday Barn MarketDate: November 27Time: 10am-6pmLocation: Chenault VineyardsAnd so it is with Chenault Vineyards—the lovechild

Read More

NEW LISTING | 3181 Pimlico Pkwy Lexington, KY 40517

 Take a look at this updated end unit move-in ready townhome with 2 bedrooms and 1.5 baths! Be the first to live in this completely renovated property! You'll love the neutral decor, NEW front

Read More

600 Vincent Way #3310 Lexington, KY 40503

600 Vincent Way #3310 Lexington, KY 40503 $189,900 Looking for maintenance-free living in a convenient location close to shopping & UK? Check out this move-in ready condo at Wellington Chase!'

Read More

344 Rachel Way Lancaster, KY 40444

344 Rachel Way Lancaster, KY 40444 $240,000 Check out this beautiful Ranch located on a 1 acre lot in Cade's Cove, 10 minutes from Herrington Lake. You'll love this move-in ready home that offers 3

Read More