Here’s how the beginning of the spring 2021 market has been faring.
Today we’re sharing how the early spring market is doing. We are assuredly in a seller’s market; we’re seeing unprecedented shortages of inventory. Usually, we’d be seeing many more homes coming onto the market by this time in the season; it hasn’t happened yet, but we’re hoping it still will. On the flip side, we’re seeing much more buyer demand than we’ve ever seen this early in the season, and a lot of that is being driven by the very low interest rates.
We’re seeing multiple offers on the majority of houses; the most we’ve seen is 62 offers come in for a townhome recently. Nearly all properties are selling within days, if not hours, which means we’re seeing buyer’s creativity increase in their offers. However, some sellers are placing rigid guidelines on what they will and won’t consider in an offer, and some prefer a cleaner offer without all the layers of complexity.
Just because sellers are receiving so many offers doesn’t mean it’s an easy sale; if you’re getting 62 offers for your home, where do you even start when trying to choose just one? You still need to prepare your house for sale—in that regard, you need to treat this like a typical market. We’re seeing many sellers feel the need to rush their listing, but it’s still crucial for the property to be ready and for you to be mentally ready for the market because things move extremely quickly.
If we can answer any questions or you want to discuss a possible move in your future, feel free to give us a call or send an email. Also, let us know if you have a blog topic you’d like us to cover. We look forward to hearing from you.