Summer is close to coming to a close but what does that mean for the real estate market? Here are some tips and trends for the latest news in the real estate world and what you should be taking advantage of today! With the fall market coming in now is the perfect time to read the basics of preparing yourself whether you’re a buyer or seller!
Based on the latest data from Realtor.com, data shows that properties are selling 8% quicker then last year, meaning there’s been a growing trend of the market regaining traction. Properties have been staying on the market for a median of 83 days, statistically a whole week faster than last year’s sales in 36% of the larger markets. With an average of 63 days on the market, now is the time to get ahead of the curve and start selling if your interested in making the most money you can while the market is gearing up to be in top shape.
Faster sales can mean different things for both buyers and sellers based on where they’re looking. Sellers are in for great news because the market means they can get the most return on their investment by selling today. If they’re looking to sell their home in the quickest amount of time as well, then they’re also in luck. With plenty of buyers to choose from, your negotiation power goes up that completely relies upon your own time constraints. Not only that but with lower competition for selling, the housing prices are higher meaning you gain more profit!
For buyers, you’re not in the best position, because with a faster market, it means you have more competition. With such few selections to choose from with so little time, you’re going to have to fight for what you want. Along with that, with such a low scarcity of properties, you need to be sure you’re capable of preparing your finances with a mortgage and enough for a recommended 10-20% down payment. Also, be sure to expand your horizons as there will be various areas that may not fit your impressions of your dream home, but it will be a worthwhile investment that can expand to fit your ideal situation.
There are plenty of other trends that I’m sure you’re curious about. If you really want to stay ahead of the game and have an advantage, then your best course of action is to get yourself a real estate agent. By partnering with us, we can give you the best advice whether you’re a new seller on the market, or a struggling buyer. Feel free to test our knowledge on the market, and do your own research beforehand. Having a general overview of your local market is like taking the first step through the door. It helps make the process easier for yourself. We recommend looking at Zillow reviews as well of your local agent(especially ours!) as the reviews are given by trusted sources of clients who received services from their agent. We can keep you up to date on the latest real estate news in your local areas and will do everything in our power to get you the best deals possible. Call in for a buyers consultation or ask inquiries about selling your property today!