Time to Sell

Yes – it is still a seller’s market in most places in the United States. Factors that indicate it’s a seller’s market include:

• Housing prices are rising rather than declining
• Housing inventory is still at historically low levels in most states, cities and geographic regions in the United States
• The average days on market (DOM) is still low (42 days as of the end of 2023, which is slightly lower Year-Over-Year)
• Mortgage rates are expected to decrease in 2024, which will likely motivate buyers this year

As of the beginning of 2024, economic indicators suggest more people will be looking to buy this year. Limited inventory combined with increased demand puts home sellers in an advantageous position. That being said, your decision of whether now is a good time to sell should be based on more than just local housing market conditions. There are many compelling reasons that motivate people to sell their homes, many of which are personal and unique to their situations.

Upsizing to Accommodate a Growing Family

Whether you’ve just gotten married and plan to start growing your family or you have another child on the way, a lack of space in your current home is always good motivation for buying a new home.

Although children can technically share rooms, doing so has limitations. Kids often benefit from having space of their own, and you may only be able to fit so many children into a limited number of bedrooms in your current home. Age and gender differences can also make it difficult to force your kids to continue sharing rooms for prolonged periods of time.

Additional bedrooms aren’t necessarily the only factor to consider. Getting more yard space, enhanced amenities (like a pool), a bigger kitchen, dining room or living room or extra bathrooms are all good reasons to upgrade your home as your family grows.

Downsizing as an Empty Nester

Selling your current home after your adult children go off to college or move out on their own often makes a lot of sense for older couples. Empty rooms and large properties have a lot of extra unused space to clean and maintain.

You may have owned the home for a decade or more and have built up a lot of equity that you want to access. In many cases, empty nesters can purchase a smaller home or condo outright solely with the equity in their current, larger home. Many empty nesters can afford a nicer place in a better part of town and closer to amenities they want since their post-sale budget can accommodate a quality upgrade.

Relocation for Work

It’s almost never advisable to pass up career advancements or a job that will improve your quality of life solely because you’re worried that now might not be the best time to sell your house or buy a new home.

Don’t undervalue your own happiness. If you have the opportunity to pursue a job that will make your life better, don’t let concerns about the housing market hold you back. Also, keep in mind that there are temporary housing solutions, like renting an apartment or smaller home and putting your extra belongings into storage temporarily while you take your time to look for a house to buy or wait for the market to improve.

Changing Lifestyle Preferences

Maybe you’ve lived in the city all your life and you and your family are looking for a change of scenery or a quieter pace. Or maybe you’ve always lived in a rural area and want to move to a suburb or city with more job opportunities, things to do and enhanced amenities.

One of the great things about living in the United States is the extraordinary geographic and cultural diversity. You’re one of the lucky few in the history of the world with unfettered access to the entirety of all 50 states – don’t hesitate to make full use of that freedom if you’re looking for a change.

Financial Reasons

Whether you want to access equity to pay for your child’s college, reduce expenses before retirement or upgrade or downgrade your living expenses after a job change, there are many potential financial reasons that may motivate you to sell your home and look for new living arrangements. The housing market shouldn’t necessarily influence your decision if budgetary changes must be made quickly.

We Strive to Sell Homes for Maximum Dollar Fast

Although the real estate agents at 72SOLD can’t snap their fingers and transform the market, our strategies are designed to work in all types of housing market conditions. While we won’t claim that market conditions don’t matter, we do have studies backing up our claims that we consistently get better-than-average offers in comparison to comparable home sales in the local MLS – and we pledge to get those offers in eight days or less. If you want or need to sell your home quickly, 72SOLD can help.