With school in full swing and the holidays approaching, many homeowners decide to take their home off the market or not to list until spring. Homes are selling at a faster pace and many buyers are ready to purchase right now, so waiting till next year might not be the best strategy.
Here are 6 reasons why homeowners should list their homes now.
Low Interest Rates. Even though rates have recently increased slightly, they are still historically low. Many buyers want to lock in the advantageous rates as soon as possible.
Limited Inventory. Reno currently has a 98 day inventory for homes priced between $300,000 and $600,000. The National Association of Realtors says a healthy market (neither a buyer's nor seller's market) has between 5 and 6 months of inventory. Listing now would mean that your home has fewer homes to compete with and buyers are more likely to notice new homes as they hit the market. Check out the latest Reno-Sparks market report here.
Increased Home Values. For many homeowners, their homes have equity for the first time in years. Having positive equity can be a strong motivator for homeowners to put their home on the market. This will also mean that homeowners who are looking for a new home likely have equity in their current home and are more comfortable purchasing a new home.
Quicker Closing. With fewer home sales going on through the winter months, contractors, lenders, inspectors, and appraisers shouldn't be as busy as they were this summer. Your closing should be less likely to be held up due to other people's schedules.
Motivated Buyers. Buyers are moving for a variety of reasons and most want to be settled in their new home as quickly as possible. Maybe they have a baby on the way, are relocating for work, or need to get out of their current living situation. Being in their new home by the holidays or the new year may be a priority for them to move quickly.
Work Relocation. January is the most popular month for corporate transfers. With Northern Nevada's booming economy, many people are moving to the area and are in need of housing. These buyers may be starting their home search now.
If you are interested in selling your home, whether immediately or in the spring, we will be happy to create a fully customized property valuation so you know exactly what your home is worth in the current market. We work with an exceptional team that will market your home to qualified buyers to get your home sold as quickly and for as much as possible. Call us at 775-453-4568 for more information on buying or selling a home in Reno or Sparks.