CHARLOTTE – When it’s time to sell your home in a seller’s market, it’s not anywhere near the same as selling during a buyer’s market. It’s best to sell when the market favors sellers, but there are still some things you should know.
Listing your home for sale during a seller’s market will likely mean it will be on the market for a shorter amount of time. You may also receive multiple offers, which could drive up the sales price.
When does a Seller’s Market Happen?
Typically, if the inventory of homes is less than 6 months’ worth, it’s considered a seller’s market. The lower the inventory and the higher the demand, the more the market will favor sellers. For example, if only two months’ worth of home inventory is available, the market will favor the seller much more than if five months of home inventory is available. Mint Hill currently has less than a month of inventory – we definitely have a seller’s market here!
A seller’s market means there are fewer homes for buyers to choose from on the market. This tends to create multiple offers and higher sales prices, like the current market after the COVID-19 pandemic has hit and interest rates were dropped.
3 Top Tips for Selling Your Home in a Seller’s Market
1. Don’t Get Sloppy
Even though selling a home during a seller’s market may seem easy, you still need to prepare your home for sale properly. This could mean staging it well, handling necessary repairs, or even getting a few renovations done. You want to present your home in the best light possible to attract multiple offers.
2. Be Prepared for a Quick Move
Seller’s markets tend to offer buyers ready to move fast. They may have already been outbid on another home and they don’t want to lose your home to someone else. Be prepared to move quickly, but also make sure you take the time to review multiple offers if you get more than one.
A good real estate agent comes in handy when selling your home in a seller’s market. With a good agent, you will know what each offer provides, outside of the price and you will have an expert to help guide you through the process.
3. Let your Listing Go Live on Friday
One of the best ways to get the most eyes on your listing in any market is to let your home listing go live on Friday. This tends to be the best day of the week for buyers to browse home listing online and schedule appointments. You might also consider leaving town for the weekend as lots of showings could keep you from relaxing at home anyway. Just make sure your agent can reach you and you have an internet connection to sign a great offer electronically!
Of course, your listing still needs to have great pictures, a virtual tour, and the right information to attract attention. With a good real estate agent, you will have a professional listing and the right marketing plan to attract attention.
If you’re planning to sell your home soon, you will be selling during a seller’s market. The Mint Hill real estate market is hot right now for sellers and these tips can help you attract multiple offers from buyers ready to move quickly.
I would love to be part of your journey when the time is right for you. If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. I will help you make the right move! Anna Granger (704) 650-5707 | firstname.lastname@example.org | www.1stchoicepropertiesinc.com