Sellers
Best time to sell your home – If you’re thinking about selling your house, you should know the number of homes for sale right now is low. That’s because, this season, there are fewer sellers listing their houses for sale than the norm.
Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):
While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It’s called rate lock.
As a recent survey from Realtor.com explains, 56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.
While this wait-and-see approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.
If your current house truly doesn’t fit your needs anymore and you’re ready to move, don’t miss this chance to stand out. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.”
Best time to sell your home – Bottom Line
In summary, ‘the best time to sell your home’ is now, especially given the current dynamics of the Las Vegas real estate market. With potential competition looming, acting swiftly could position you in a place of advantage, enabling your property to stand out and potentially attract multiple offers.
The concept of ‘the best time to sell your home’ is often fluid and can be influenced by various factors. However, the current conditions present an excellent opportunity for sellers to capitalize on high buyer interest coupled with limited inventory. Our current market environment emphasizes the importance of timing, and for many, the time is ripe for selling.
The phrase ‘the best time to sell your home’ is not just about market conditions but also about preparedness. This readiness involves ensuring your property is market-ready, highlighting its most compelling features to entice potential buyers. As your premier real estate agent in Las Vegas, I can provide insights and recommendations to enhance your home’s appeal, making it a top choice for prospective buyers.
Furthermore, ‘the best time to sell your home’ is when you have a trusted real estate professional by your side. With my wealth of experience and knowledge of the Las Vegas market, I’m dedicated to providing you with strategic guidance and support throughout your selling journey. Your success is my goal, and I am committed to helping you navigate this rewarding yet often complex process with confidence.
Therefore, whether you’re curious about ‘the best time to sell your home’ or ready to make the move, feel free to reach out. I’m here to answer your questions, provide valuable market insights, and offer professional advice tailored to your unique real estate goals. Let’s connect and take the first step towards making your home selling experience a successful one.
