GET READY! THE SPRING MARKET 2021 HAS ARRIVED
WHAT WE KNOW! According to INFOSPARKS, in our MLS the average sales price has increased +5.6%, year over year. Our months of supply of inventory is down a startling -22%, creating a HUGE pent-up demand. There is only 3.2 months of supply creating a fantastic seller's market. A seller will always negotiate the best price when demand is high & supply is scarce. The shortage of inventory leads to continued appreciation.
When meeting with sellers that want to list in the spring market, I always urge them to consider listing in January, February or March. EVERYONE waits until the end of April, beginning of May which significantly increases the competition. With the possibility of a vaccine being released soon, COVID-19 restrictions easing up, sellers that held off listing in 2020 could list in 2021. While it could be quite a while until we see inventory catch up, a seller should definitely be taking advantage of the market conditions for a quick sale at a great price. The lack of inventory also increases a listing's number of showings! In our MLS the number of showings per listing is up 25% year over year.
If you are thinking about selling, get that house on the market! The time to sell is now!
ABOUT PENNY O'BRIEN
BAIRD & WARNER – One word that consistently comes to clients’ minds when they think of Penny O’Brien is “hustle.” As a Seller Representative Specialist, she loves meeting with sellers to discuss pre-market home improvements and guide them to make their home “showtime ready” when it hits the market. She strongly believes in professional staging and offers it as a complimentary service. With a reputation for “good-looking listings,” she helps clients realize a higher return and quicker sale. Penny says “Staging transforms a home from average to amazing”.
Penny O'Brien Broker, Relocation Specialist and
Negotiation Expert • (630) 207-7001 • firstname.lastname@example.org