You don’t have to read too many real estate articles to know that we have been in a seller’s market for several years now. In fact, a simple quick glance at the articles in this blog will tell a consistent story. The bottom line is that strong buyer demand combined with record low inventory levels have driven up home prices. Needless to say, the environment has resulted in a great time for sellers to list their homes for sale. According to the National Association of Realtors®, a recent study analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house for sale this year.
Timing is everything
According to this analysis, the best week of the year to list your home for sale is between April 10th – 16th. This week is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year. The expectation is that we will continue to see strong buyer demand during April in part due to the rising mortgage rates. This race against time with mortgage rates forces buyers to act even more swiftly.
As for sellers, this timing can be advantageous as well. Since we typically see the housing inventory increase during the spring home buying season, listing your home for sale during this week will give you a head start. Needless to say, listing your home for sale during the tightest inventory period will allow your home to be in the spotlight longer. With homes selling in just 18 days on average, you may find that this is a quick and efficient process.
Summary
Overall, the housing market is expected to be a seller’s market for the remainder of the year. Of course, as mortgage rates continue to rise it is largely expected that buyer demand will subside some. With many buyers looking to lock in mortgage rates now, sellers will benefit from stronger buyer demand resulting in likely bidding wars in the coming weeks.
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
