Question is: ‘Should I sell my home this year?’ The answer is “HECK YES!” 😉
If we were on Jeopardy! that would be my answer.
Nearly every day, I get a call from one of my clients or their friends or family members and they ask me the million-dollar question:
“Is this a good time to sell my home?” The answer: HECK YES!
In Austin, February’s average transaction for single-family homes was $558,366 vs last Feb at $408,976… an INCREASE of 36.53%. And, while we keep hearing about the housing shortage, I think it is now better defined as a ‘race to buy’ a home, thus creating the lack of inventory.
We are starting to see more and more homes hit the market, but they are selling fast and for more money than seems possible.
I have so many clients that are debating over whether or not to sell right now. Some are waiting on timing. Others are waiting to see what the interest rates will do and still others are just waiting…maybe to see what they can buy?
Well, now is the time! You don’t have to wait until May or June (or July, August or September). You certainly can… and hope the interest rates won’t increase. But, my point is, the market is so high RIGHT NOW, and there is a big pool of buyers trying to buy before rates go up. Plus, did you know that your primary residence qualifies for the $250/$500k capital gains exclusion (Always verify with your CPA because each person’s circumstances are different)
No one knows what this market will do over the next year or so or where the rates will go. But what I can tell you is, TODAY, the prices have never been higher, and we have never seen a stronger pool of buying power due to historically low-interest rates. While the number of homes sold in February 2021 was 1,044 compared to 1299 in February 2020, the days on market are less than half of what it was a year ago. In other words, homes are getting scooped up immediately due to MORE buyers and less homes!
If you do want to sell, but don’t know where you’ll go, I have a strategy that I put in place for all of my Sellers. We simply sit down, evaluate your situation, & then build out the listing strategy from there, incorporating your needs. It generally involves an extended closing or leaseback to give you time to look for a new home and a strategic approach in financing that allows you to buy without contingencies. I promise to explain it all very clearly once you are ready to sell.
Ultimately, only you know when it’s the right time to sell. If you want to give me a call to discuss your options and pricing, I would be glad to sit with you and evaluate the details, no strings attached. And if you do decide to sell this year, I will be right there with you. HECK YES!
Give me a call or email me and we can discuss what you could realistically expect to get in this market (and that target is changing by the day)
Until next time… keep smiling… be kind… and stay safe out there 🙂
