Listing in a Sellers Market Benefit 1:
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 1st benefit when listing in a sellers market.
- Less Competition
When inventory or the number of properties on the market is low, your chances of selling your property at a great price is much higher. You don’t worry ‘IF’ your house will sell, it’s a question of ‘WHEN’. Even if your home is in great condition and priced correctly in a market with a balanced inventory, there’s far less guarantee you’ll sell. It’s the direct opposite to a seller’s market. Feel free to start planning what next as soon as your Central Florida home is put up for sale.