A recent article published by CNN money says, “It’s a good time to be a home seller right now… really good.” Why? Quote, “it’s the most profitable time to sell a home in almost ten years!” So what’s got CNN money so excited on behalf of home sellers? Take a look at these record-breaking real estate stats:
Sellers listing now are making (a lot) more money:
Nationwide, the median home sale price is up 13%, one of the biggest leaps ever recorded. This is especially appealing in high-price markets like San Jose and San Francisco, where the median 2017 home price has increased by an average of $365,500 and $276,750, respectively. Similar trends are being seen throughout Florida, where homes are selling for more money than last year in 8 out of 10 major markets.
Buyer demand is off the charts:
In a recent CNBC article on today’s market, an agent out of Burbank, CA said, “I’ve been selling real estate for 25 years and this is the strongest seller’s market I have ever seen.” A recent property he listed in the LA area had three offers in before the first open house and drew over 100 potential buyers. Another agent said she’s been getting 12-16 offers per listing, most over asking and with no contingencies. She’s also seen an increase in offers from buyers offering all-cash financing. This behavior is popping up in hot markets around the country, making it an ideal time to list if you’ve been on the fence.
Take advantage of these real estate trends! Whether you live in the big city with big increases in average sale prices or in a smaller community reaping the benefits of eager buyers, it’s an excellent time to sell your home.