Want Top Dollar for Your House? Now’s the Time To List It.
When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list.
“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”
And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this December was the most active December in five years (see graph below):
As the data indicates, buyers are very active this winter. Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. And remember – you want to sell something when there’s a strong demand for that item. That time is now.
2. Housing Supply Is Extremely Low
Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we’ve seen in any January since 2017 (see graph below):
And don’t forget, the best time to sell an item is when there’s a limited supply of it available. This graph clearly shows how extremely low housing supply is today.
Even Though Supply Is at a Historic Low, Home Sales Are at a 15-Year High
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.
NAR also reports available listings by calculating the current months’ supply of inventory. They explain:
“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.”
The current 1.8-months’ supply is the lowest ever reported. Here are the December numbers over the last five years (see graph below):
The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers like you an incredible opportunity.
If you agree the best time to sell anything is when demand is high and supply is low, let’s connect to begin discussing the process of listing your house today.
If you need to sell your home in order to buy a new one we have exciting news for you! You can leverage your current homes equity and make an offer on a new home without a contingency using something called a Bridge Loan. We are excited to offer this incredible option to our clients. Please watch the video below to learn more about it.
"They worked hard for us while selling our home; from the time our home went to the market to the time it closed was just over a month…he was AMAZING! Thank you, thank you, thank you! You guys do an amazing job and I will continue spreading good things about you and send business your way! "- Gary & Jenny Grant
"West Real Estate Group did an outstanding job of assisting us with the sale of our home. Complications and hurdles were promptly dealt with and the with minimal delay to our closing. Our home was sold in five days. John gave us his word that we would be in our new home as planned. John kept his word. Thanks for all you did John. We will be recommending you and your team to all wishing to sell their home." -Gary and Melanie Quast
"They gave great advice to get our home ready to sell, and gave us enough information throughout the process to feel confident we got the best deal possible. Our house ended up selling on one day, above the asking price! We would recommend West Real Estate Group to anyone wanting a good, fair deal-buyer or seller!" - Nathan & Laura
"John kept in contact with us while we were preparing the home to list. When we were ready- so was he with comps & analysis. He promptly helped us set a price, listed the home, and we had an accepted offer within a day! He helped us negotiate with the buyer to pay 1/2 of an unexpected furnace replacement cost, and we closed early. Excellent! Thanks, John." -Dan & Jennifer Hagan
"John and his team were fantastic through our entire selling process! Not only did he sell our home quickly, but he kept us well-informed and was willing to answer any and all of our questions. We would highly recommend him to anyone looking to make their selling experience a great one." - Brandon & Caitlin Robbinson
"What impressed us about John and his team was their ability to utilize technology and really get our home exposed. The HD photos of our home were perfect. John communicated with us weekly on the status of our home while it was being marketed. John and his team are true professionals in the real estate business. Thank you!" - Channon Romo
"We interviewed and hired this group to sell our home in Meridian, ID. We were impressed from the start and never disappointed throughout the whole process. The work done was professional, top notch, courteous and responsive. They were personally attentive and used the most up to date technology. Whenever we needed to contact them, they were available. John contacted us on a regular basis as well. We always felt we were in the loop and were constantly kept informed of the progress of our listing/sale. We would employ John and his team again in a minute when the need arises, and as a bonus, we made friends for life!” -Jane Sessions
"We have lived in many places across the country and bought and sold numerous homes. John and Nicole were the best realtors we have ever associated with. They were personal and professional. Very knowledgeable and easy to talk with. I would recommend them to everyone." Lori Washburn