With all the craziness going on in the world right now, selling your home may not top the list of your priorities. But you may be surprised to learn that now really is a great time to sell. Even though the stock market has been erratic for weeks, businesses are closing, and people are being laid off due to the pandemic, home prices have been relatively unaffected. As a matter of fact, they continue to rise! Per the National Association of Realtors (NAR), the median home price has risen 8% from March, 2019 to March, 2020. Meanwhile, inventory of homes available for sale has continued to decrease. While sales naturally slowed during March due to the coronavirus outbreak, home prices will likely still continue to rise thanks to the low inventory.
Agents are still seeing multiple offers on some properties and sellers are not inclined to drop prices. Home Prices on the Rise
Per Realtor.com, for the week ending on April 25, about 4% of sellers dropped their prices compared to last year when 5.7% dropped prices during the same week. At the same time, new listings were down about 44% in April compared to 2019. In addition, the pandemic has many sellers unwilling to allow people into their homes, so they are waiting to sell and therefore contributing to inventory shortages. Thus high demand and low inventory is still driving the market and many listings are getting multiple offers or getting sold before they ever even hit the market. The Number of Home Listings Plummeted in April as Coronavirus Took Its Toll
With prices still going up and buyers bidding over asking price to get into homes, this may be the perfect time to sell your home. The professionals at Inside Tampa Homes can help you sell your property quickly and safely!
Residential Real Estate is considered an essential service and we are here for you and we will be compliant with all CDC regulations. You are safe with us! So, if you are ready to sell your home, Call the TAMPA BAY real estate professionals, Linda & Craig Nowicke at Inside Tampa Homes and let them assist you in getting your home STAGED, PHOTOGRAPHED and SOLD for the highest possible price!