Why Right Now May Be the Time to Sell Your House
The housing market in Worcester, Massachusetts, and surrounding towns made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.
According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across Worcester county and the entire country are incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:
Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.
maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.
NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.
What does this mean for buyers and sellers?
Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.
Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.
The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market. If you are ready to sell, read my blog on prepping for selling your home during a Worcester Winter!
Discover the Charms of Central Massachusetts: A Great Place to Call Home
Central Massachusetts, nestled in the heart of New England, boasts a unique blend of natural beauty, vibrant communities, and a high quality of life. From its picturesque landscapes to its rich history and thriving economy, there are countless reasons why Central Massachusetts is an exceptional place to live. In this article, we will explore the various factors that make this region an enticing destination for those seeking a welcoming community, diverse recreational opportunities, and a balanced lifestyle.
Why Buyers Need an Expert Agent by Their Side
Discover why having a professional and skilled expert to guide you through the home-buying process is essential, especially in today’s market. Learn more about the advantages of working with an experienced agent like Diane Casey Luong.
Think Twice Before Waiting for Lower Home Prices
As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June.
4 Key Tips for Selling Your House This Spring
Everyone selling their home wants three things: to sell it for the most money they can, to do it in a certain amount of time, and to do all of that with the fewest hassles. To accomplish these goals, let’s connect so you can understand the steps you need to take to sell your home this spring.
Reasons To Consider Condos in Your Home Search
Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos.
Contact Diane
Diane Casey Luong
Realtor
Realtor at RE/MAX Advantage I, Buying Real Estate Agent, Seller Real Estate Agent, Listing Real Estate Agent
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide above will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.
You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.
2015
RE/MAX 100% Club
Diane achieved levels of productivity in 2015 that were more than double the industry average with commission levels of $100,000 – $249,999
2016
RE/MAX 100% Club
Diane achieved levels of productivity in 2016 that were more than double the industry average with commission levels of $100,000 – $249,999
2017
RE/MAX 100% Club
Diane achieved levels of productivity in 2017 that were more than double the industry average with commission levels of $100,000 – $249,999
2018
RE/MAX 100% Club
Diane achieved levels of productivity in 2018 that were more than double the industry average with commission levels of $100,000 – $249,999
2019
RE/MAX 100% Club
Diane achieved levels of productivity in 2019 that were more than double the industry average with commission levels of $100,000 – $249,999
2020
RE/MAX 100% Club
Diane achieved levels of productivity in 2019 that were more than double the industry average with commission levels of $100,000 – $249,999
2016
Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level
2019
Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level
Working with Diane was an absolute pleasure and joy.
She was incredibly professional yet still warm and personable. I always felt that Diane had my best interests in mind; she never pressured me into anything and always worked to get me all the information I needed before making a decision.
Diane had great knowledge of the housing market in the area and the pros and cons to look for when looking at homes.
During the finalization process, Diane was able to refer me to an excellent home inspector and other individuals necessary for the closing.
I wholeheartedly recommend Diane and would use her again if I am lucky enough to buy another home or sell my own.