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    • Active Tom Wolf Team Office Listings
    • Oakland Park
    • Fort Lauderdale
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  • Buyer
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    • 4 Questions to Ask Before Buying a Home
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Buyers

This is a Seller's Market

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Tom Wolf,04/7/2021

If you have thought or even briefly thought about selling your house.  This is the time to really think about it.  We are in the ultimate Sellers’ Market  and this is the optimal time to put your place on the market for buyers who are looking for homes to purchase.

The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

For a normal or neutral market, a 6-month supply is necessary where there are enough homes available for active buyers (See graph below):

Sellers Market in South Florida

 

When the supply is so low or depleted as it is right now, it is much harder for buyers to find homes to buy.  Because buyers or competing for the little inventory, it is driving prices up (Supply and Demand).   Which in turn you will see buyers submitting very attractive offers

As this happens, home prices go up and the seller have the upper hand in negotiating deals that is ideal to their terms. If you put your house on the market while there are few homes available to buy, it will more than likely get a lot of attention from hopeful buyers.

There are buyers ready, willing, and able to purchase a home. With  Low mortgage rate  and a year filled with unique changes in work and home life.  Have prompted buyers to think differently about where they live – and they are taking action. The supply of homes for sale is not keeping up with the high demand, making now the optimal time to sell your house.

Take away

Home prices are rising in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.

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