Today’s Housing Inventory Is a Sweet Spot for Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com:

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You?

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

• The percent of homes that sold in less than a month ticked up slightly to 74%.
• The median days on market went down to 18 days, showing homes are still selling fast when priced right.
• The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.

Should you Stage your home in order to sell it?

Staging your home can be a great way to make it more appealing to potential buyers and increase your chances of selling it quickly and for a higher price. Staging involves arranging furniture and decor in a way that highlights the best features of your home and makes it look more inviting and spacious.

 

Studies have shown that staged homes tend to sell faster and for more money than homes that are not staged. This is because staging can help buyers envision themselves living in the home and make it easier for them to see its full potential.

 

However, staging can also be expensive and time-consuming, so it’s important to weigh the costs and benefits before deciding whether to stage your home. In some cases, it may not be necessary if your home is already in great condition and well-maintained.

 

Ultimately, the decision to stage your home will depend on your specific situation and goals as a seller. If you’re unsure whether staging is right for you, it may be helpful to consult with a real estate agent or professional stager who can provide guidance and advice based on your individual needs.

 

 

Selling a home can be a stressful and time-consuming process, but one way to make it easier is by staging your home. Staging involves arranging furniture, decor, and other items in a way that makes your home look its best and appeals to potential buyers. While there are many advantages to staging your home, there are also some potential disadvantages to consider. In this article, we’ll explore both the pros and cons of staging your home to sell.

 

Advantages of Staging Your Home to Sell

 

1. 1. Helps your home stand out: When you stage your home, you’re creating a space that looks polished and put-together. This can help your home stand out from other properties on the market and make a strong first impression on potential buyers.

 

2. Makes your home look larger: By decluttering and rearranging furniture, you can make your home look more spacious and open. This can be especially helpful if you have a smaller home or if you’re trying to sell a home with an unusual layout.

 

3. Helps buyers envision themselves in the space: When you stage your home, you’re creating a neutral, welcoming environment that allows potential buyers to imagine themselves living there. This can be especially helpful if you have a unique or quirky home that might be difficult for buyers to envision as their own.

 

4. 4. Can increase your home’s value: According to the National Association of Realtors, staging can increase the sale price of a home by up to 10%. By investing in staging, you may be able to sell your home for more money than you would have otherwise.

 

Disadvantages of Staging Your Home to Sell

 

1. 1. Can be expensive: Depending on the size of your home and the extent of the staging you want to do, staging can be a significant expense. You may need to hire a professional stager or rent furniture and decor to create the look you want.

 

2. Can be time-consuming: Staging your home can take a lot of time and effort, especially if you have a lot of clutter or if you’re trying to create a specific look or theme. This can be challenging if you’re also trying to pack up your belongings and prepare to move.

 

3. May not be necessary: Depending on the condition of your home and the local real estate market, staging may not be necessary to sell your home. If your home is in good condition and priced competitively, it may sell quickly without any staging at all.

 

4. May not appeal to all buyers: While staging can help your home appeal to a wide range of buyers, it may not be everyone’s cup of tea. Some buyers may prefer a more personalized or eclectic look, and may be turned off by a home that looks too staged or generic.

 

In conclusion, staging your home can be a great way to make it more appealing to potential buyers and increase your chances of selling quickly and for a higher price. However, it’s important to weigh the potential advantages and disadvantages of staging before you invest time and money into the process. By considering your unique situation and the local real estate market, you can make an informed decision about whether staging is right for you.

We have a variety of staging services to suit every need. 

 

Falling out of Love with Your House? It May Be Time To Move.

Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it may be time to make a move.

According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), the average person has lived in their current house for ten years. If you’ve been in your home for a while, think about how much in your life has changed since you moved in. Even if you thought it would be your forever home when you bought it, it doesn’t have to be. Work with a local real estate agent to explore all your options in today’s market before settling for your current home.

That’s actually what a lot of homeowners are doing right now. A recent survey from Realtor.com finds that, of people who are considering selling in 2023, one in three are thinking about moving because their home no longer meets their needs. And according to the same report from NAR, that’s consistent with this year’s top reasons for selling, which include:

• Want to move closer to friends or family
• Moving due to retirement
• Home is too small or too large
• Change in family situation
• Job relocation

If things in your life have changed, it may be time to make a move. And there’s good news: it’s still a great time to sell. Here’s why.

We’re in a strong sellers’ market. That means homes listed at market value and in good condition are getting attention from buyers and selling quickly. Lean on your expert real estate advisor for the best advice on getting your house ready to sell.

Your equity can power your next move. There’s a good chance you have a significant amount of equity right now thanks to record levels of price appreciation in recent years. When you sell, you can use that equity to help afford your next home. In fact, NAR’s report from above shows 38% of recent buyers used the money from the sale of their previous home to cover the down payment on their next one. Work with a local real estate agent to learn how much equity you have and what you can do with it in today’s housing market.

Bottom Line

If your home no longer meets your needs, consider selling it so you can find your dream home. Let’s connect so you can learn about your options.

 

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