Despite everything going on around the world, the beginning of 2021 is already bringing an incredibly strong real estate market to the table. To get you motivated and make your 2021 moving goals a reality, here are 5 reasons why you need to sell your house now in Southbury instead of waiting.
The real estate market in 2020 was off to an great start before the health crises put the brakes on everything for a short period of time.
We now have a better understanding of best practices and new norms to keep us safe and buyer demand is at an all time high right now.
As we are going through the winter months sellers are not lining up as they usually would. With the low inventory of properties on the market, now is a great time to make an impact by filling the low home inventory void in your local housing market.
Southbury single family home inventory is down -66.7% currently at a 1.7 month supply of inventory right now.
Interest Rates Remain Favorable
The largest point of assistance the real estate market received in 2020 was the Federal Reserve’s decision to cut interest rates, and then consistently maintain that stance all the way through 2021.
This gave owners and potential buyers motivation to participate in the market altogether, rather than shy away. Some owners are choosing to refinance rather than go searching for a new home, but these reduced interest rates are also making it easier for buyers to get a better deal, and they are looking to take advantage of that fact.
As if right now mortgage rates are still under 3% and at the time of writing this. They are currently at 2.73% for a 30 year fixed rate mortgage. These low mortgage rates are expected to remain around 3% for 2021.
Demand Is Up
With the low home inventory also comes the second part of the equation and that is demand is already high, and still growing.
The health crises has made people rethink their living spaces, and what buyers are looking for in a home has changed to include the possibility of needing to work from home and be available to their kids throughout the day.
A block of homebuyers that started to come out in droves in 2020 was Millennials. The estimation for this growth in interest is that Millennials have generally been less affected by employment issues during the health crises.
These individuals in their mid-20s and 30s are shopping around to purchase a starter home, and the demand for these homes has only increased since last year.
Beat The Rush
Winter is not usually the ideal time to put a home up for sale, but this winter is an exception to that rule. With the demand being so high we have not seen the typical housing market winter slowdown.
Getting ready to sell your house now means being a step ahead of anyone who was planning to do the same in the spring and summer months.
This has created a unique opportunity for sellers to rapidly generate buyer interest before other properties are even prepared to hit the market that you would have to compete with.
Give Yourself Time
Most sellers don’t plan things out far enough in advance and spend most of their time on the market catching up.
By getting the process started now, you are giving yourself some time to both prepare for sale and throughout the showing and negotiation processes.
Keep in mind that the typical considerations potential buyers will have for how long a property has been on the market are a bit blurred at this time because they will have to remember that the health crises has slowed real estate markets everywhere.
Get Ready to Sell Your House Now In Southbury
If you are looking to get a head start on the competition and prepare to sell your house now, let’s talk today (203) 233-1497!
I am committed to the real estate market to make sure you have all the information you need to make your next move. Make sure to check out all the resources I have to put together for you on my website and if you have any real estate questions or even just want to meetup for a quick coffee, reach out to me anytime. I look forward to hearing from you. Have a great day.