Listing in a Sellers Market Benefit 2:
Higher Sales Price
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 at a Higher Price
Being able to sell at higher prices is a marquee advantage of selling in a seller’s market. Sellers get the freedom of putting higher asking prices for their properties since there is much more interest to meet the price. Also, a low inventory market increases the possibility of multiple offers which often drive the sales price up even if the asking price was lower or at market value.