Thinking about selling your home in 2017? Overall, sellers enjoyed a great year for home sales in 2016, and it looks like many of the same trends are continuing. At the Vaz+Harwood Team we expect a fast-paced year for home-sales, especially in certain neighborhoods and price points were there’s a lot of demand.
If you want to sell your home this year, listing earlier will be even more beneficial. Here’s a quick snapshot of three main factors affecting this.
There’s still low inventory
2016 saw a seller’s market with more buyers than houses on the market. According to NAR, the National Association of Realtors, home inventory has been at the lowest levels since 2000. This puts sellers at an advantage in the marketplace, and even more so if you list early in the season when there are even fewer listings for buyers to choose from.
Interest rates are still low
Very low, historically. This benefits sellers because it increases both the pool of buyers – people who can afford home ownership – and the amount that they can get qualified for. As interest rates go up, buyers have less purchasing power. Listing early this year can put you in the best spot to benefit on the lowest interest rates.
Millennials are buying houses now
Millennials have reached an age where they’re starting to become homeowners. This is adding a new influx of buyers into the market. Your home will be more attractive and have broader appeal to Millennials with energy-efficient features, efficient furnaces and appliances, smart/connected home features, green spaces, and proximity to biking, & recreation.
Here are a couple of links with some more information on the 2017 market: