homeowners who plan to sell in 2022 may think the wise thing to do is to wait
for the spring buying market since historically about 40 percent of
home sales occur between April and July. However, this year’s expected to be
much different than the norm. Here are five reasons to list your house in St.
John’s County now rather than waiting until the spring.
1. Buyers Are Looking Right Now, and They’re Ready To Purchase
The Showing Time Showing Index reports
data from more than six million property showings scheduled across the country
each month. In other words, it’s a gauge of how many buyers are out looking at
homes at the current time.
latest index, which covers November showings,
reveals that buyers are still very active in the market. Comparing this
November’s numbers to previous years, this graph shows that the index is higher
than last year and much higher than the three years prior to the pandemic.
Clearly, there’s an influx of buyers searching for your home.
at this time of year, only those purchasers who are serious about buying a home
will be in the market. You and your loved ones won’t be inconvenienced by
casual searchers. Freddie Mac addresses
this in a recent blog:
“The buyers who are willing
to house hunt in a winter market, when there are fewer options, are typically
more serious. Plus, year-end bonuses and overtime payouts give people more
that theory is proving to be true right now based on the number of buyers who
have put a home under contract to purchase. The National Association
of Realtors (NAR) publishes a monthly Pending
Home Sales Index which measures housing
contract activity. It’s based on signed real estate contracts for existing
single-family homes, condos, and co-ops. The latest index shows:
“…housing demand continues
to be high. . . . Homes placed on the market for sale go from ‘listed status’
to ‘under contract’ in approximately 18 days.”
the index to previous Novembers, while it’s slightly below November 2020 (when
sales were pushed to later in the year because of the pandemic), it’s well
above the previous three years.
takeaway for you: There are purchasers in the market, and they’re ready and
willing to buy.
2. Other Sellers Plan To List Earlier This Year
law of supply and demand tells us that if you want the best price possible and
to negotiate your ideal contract terms, put your house on the market when there’s strong demand and
A recent study by realtor.com reveals
that, unlike in previous years, sellers plan to list their homes this winter
instead of waiting until spring or summer. The study shows that 65% of sellers
who plan to sell in 2022 have either already listed their home (19%) or are planning
to put it on the market this winter.
if you’re looking for the best price and the ability to best negotiate the
other terms of the sale of your house, listing before this competition hits the
market makes sense.
3. Newly Constructed Homes Will Be Your Competition in the Spring
2020, there were over 979,000 new
single-family housing units authorized by building permits. Many of those homes
have yet to be built because of labor shortages and supply chain bottlenecks
brought on by the pandemic. They will, however, be completed in 2022. That will
create additional competition when you sell your house. Beating these newly
constructed homes to the market is something you should consider to ensure your
house gets as much attention from interested buyers as possible.
4. There Will Never Be a Better Time To Move-Up
you’re moving into a larger, more expensive home, consider doing it now. Prices
are projected to appreciate by approximately 5% over
the next 12 months. That means it will cost you more (both in down payment and
mortgage payment) if you wait. You can also lock in your 30-year housing
expense with a mortgage rate in the low 3’s right
now. If you’re thinking of selling in 2022, you may want to do it now instead
of waiting, as mortgage rates are forecast to rise throughout
5. It May Be Time for You To Make a Change
why you’re thinking of selling in the first place and determine whether it’s
worth waiting. Is waiting more important than being closer to your loved ones
now? Is waiting more important than your health? Is waiting more important than
having the space you truly need?
you know the answers to those questions. Take time to think about your goals
and priorities as we move into 2022 and consider what’s most important to act
you’ve been debating whether or not to sell your house and are curious about
market conditions in your area, let’s connect so you have expert advice on the
best time to put your house on the market. For the most current information,
contact Tammy Bond, 007 at (904) 274-1692 to get started.