The market is hot, hot, hot! With interest rates still at an all time low for buyers, the market has turned into a feeding frenzy and home sales are skyrocketing in prices. In such a high demand, seller’s market, homes are selling for record breaking prices, which means more money in your pocket. If you have been considering selling your home, doing so in today’s market will bring you a larger sales price. Don’t wait for the market to shift when interest rates begin to start going up again. The National Association of Realtors has gathered data to predict a strong 6 months of sales throughout the United States. And with such a large group of buyers hunting for homes during the summer months, you have a great potential to sell your home quickly, and move on to bigger and better things sooner.
This is also a great buying opportunity if you are wanting to transition into a new home. Low interest rates equate to more savings. You could potentially end up getting a bigger home for the same monthly payment cost when you buy your next property. And with such a hot market, there are more homes for sale, which means you can find the right one.
The Central Ohio housing market is falling right in line with the rest of the country. The most recent housing report from Columbus Realtors showed the average days on market for a home were 40 in April (the most recent report released). That’s 6 fewer days over the same time in 2016. The average sale price was 7.1% higher over the same time last year and 5.6% higher than March 2016. With less than 2 months of housing inventory on the market, home sale prices are remaining strong. That means if you’re thinking of selling now is a great time. If you’re thinking of buying, you don’t want to wait much longer because home values are increasing quickly month over month.
If you have not already spoken with an agent, get in touch with one to get a free market analysis. If you’re in Central Ohio, I’m more than happy to do that for you. Just comment below or email me at Rachel@RachelKayla.com. See if the numbers work out for you and/or your family, and if moving is something you want to do. Whether you are re-sizing, or moving to a different state, your agent can get the numbers in order to make sure it’s in your best interest to transition in today’s market. Don’t wait and lose tens of thousands of dollars in your sale price!