Sellers August 4, 2022

Why Right Now Is Still A Great Time To Sell

By now you’ve probably seen the incredible headlines of homeowners getting multiple offers for their homes and achieving sale prices of well over the asking price of the property.   In fact, when selling Westport, CT real estate, Julie Walsh has multiple examples of homes that she listed that sold for well over the asking price that was originally presented. 

You can view some of these success stories here.  

And so, the question remains, is it STILL a good time to sell your piece of real estate?  The short answer is, yes.  Here’s why:

There are a number of different reasons you should consider selling your home now.  First, buyer demand remains quite high.  With more buyers looking to find their dream home there will be many chances for your property to be seen.  If buyer demand is high, that is one piece you need to get the best possible return on your property’s investment.

The other piece of this equation is to look at the inventory in the local market, that is, how many homes that are roughly equivalent to your property are on the market at the time that you are trying to sell your home.  Currently inventory remains quite low in Westport and surrounding markets.  When inventory is low, your house has a better chance to be the crowning jewel of the market at the time it is listed.  

The combination of high buyer demand and low market inventory are a perfect indicator that now is, indeed, still the right time for you to sell your property.  They are not the only reasons why now is a good time to sell though.  

Another reason that now may be a good time to sell your Westport, CT real estate is that mortgage rates are climbing.  As the U.S. The Federal Reserve is working to curb the high inflation rates that the country is currently experiencing. It is briskly raising interest rates and so borrowing money is becoming more expensive.  If your home were listed last year, mortgage rates would have been incredibly favorable in the low 3% range, but today, mortgage rates have risen to a still low, 5% or slightly higher.  As interest rates continue to climb, more and more buyers will delay their home purchase and that could mean that buyer demand could wane.

The final piece to this puzzle is your timing.  Life events are often a prime reason why homeowners are selling property.  Whether it’s getting married or divorced, whether you and your partner have become empty nesters or are ready to grow your family, a life event is the perfect impetus for you to sell your home.   If your timing is right then the market conditions make it a great time to sell.

With an experienced and accomplished REALTOR® by your side you will be able to take full advantage of the current market conditions to get the biggest return on your investment that you possibly can get.  Contact me today and we can talk about your selling options.