In the study conducted by Redfin, a real estate brokerage, fifty two percent of home sellers believe that 2016 is a good year to sell their house fast and fifty eight percent believes that they have more authority in the housing market this year compared to last year.
It also shows that June had the most viable and best housing market performance. And this was due to the variance between the demand for and supply of homes that dramatically increased during the past months.
The supply of homes dropped at 2.8 months, which was the lowest level recorded since 2009. This rapid change triggers for an aggressive buyer’s response that augments the average percentage of the sale-to-list price to 95.5 percent compared to last years’ 94.9 percent. From 22.2 percent last year, houses sold above the list price increased to 23.6 percent.
Home sellers gained confidence with this progress however experts still advise them not go overboard on their selling prices. Home buyers are astute and reluctant to overpay despite the inequity of the housing market.
Sascha Gummersbach, Atlanta Redfin agent says, “While we’re noticing a shift among sellers in terms of their confidence in getting their homes sold quickly and for good prices, it’s up to the agent as their advocate to keep their expectations grounded and recommend a pricing strategy that is most likely to get the best value for their home.”
While it’s easy to sell properties this year, a certain percentage of homeowners still don’t plan to move out and find a replacement home soon . Not only because they love their home but surveys show that they can’t afford a bigger property. With today’s market that sellers have the power over buyers, being able to find an affordable home is a cutthroat.
This year is a good time to sell your house fast. However, it’s also a competitive year to buy your new home. Advised by Sabrina Booth, seeking the assistance of a lender for a Home Equity Line of Credit (HELOC) or a bridge loan can help you sell your existing property fast and buy your new house in a fair price.
See below infographics: