Listing in a Sellers Market Benefit 2:
Benefit 1: Less competition listing in a sellers market
What is a Seller’s Market?
A market is called a seller’s market when demand starts exceeding supply. This often results from low housing inventory which boosts competition between homebuyers and allows sellers to raise their prices. There are numerous advantages in selling a home in a seller’s market.
Low inventory in Central Florida’s strong seller’s market has pushed home sale prices up by around 3.4% from last year per Zillow. Also, more buyers living and working at home for significant periods due to Covid-19 in conjunction with historic low-interest rates have created a market with even more buyers. This has resulted in multiple offer situations and home selling much quicker than usual.
Here is the 2nd benefit when listing in a sellers market.
- Sell Quicker
The high number of buyers interested in a specific market increases your chances of getting a great deal quickly. Most sellers start receiving offers within a few days after listing in a seller’s market. This is because buyers are eager and waiting for new inventory to show up and as soon as it does, showings get on the way in the first few days if it’s in a decent condition and priced reasonably.
- Next benefit: Higher Prices