Why The Fall Is A Great Time To Sell Your Home!
As the sun sets on the summer season, some homeowners may mistakenly assume that the window of opportunity to sell their home has closed. In this extra hot real estate market nothing can be further from the truth because there are still opportunities to be had for sellers.
What many people do not realize is that homes listed during the summer are now off the market leaving little to no inventory in many communities, including Bridgewater. According to the National Association of Realtors (NAR), 51 percent of homes sold in July were on the market for less than a month. Locally in Bridgewater, 50 percent of homes sold in July were on the market for less than 25 days, and 78 percent under 50 days.
NAR additionally reported that this summer’s historically low inventory sent record homebuyers into packed open houses and created bidding wars because of the exceptional demand. “Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace, and the prevalence of multiple offers in some markets are pushing prices higher,” said Lawrence Yun, NAR’s chief economist.
In the month of July, NAR reported that total housing inventory declined 1.0 percent and is now 9.0 percent lower than a year ago, and has fallen year-over-year for 26 consecutive months. In Bridgewater, inventory declined 11.0 percent from a year ago and now stands at 2.98 month’s supply (5.0 to 6.0 is normal). With so many homebuyers left sitting on the sidelines, it could be the perfect season for home sellers to make their move.
So, is it an opportune time to sell your home? The answer is yes if the time is right for you. However, there is no need to hold off on selling your home just because summer is over. Today, there are buyers looking to move in, just as you are looking to move out.
Whether you are looking to make a purchase or sell, I can provide guidance and advise you on what you need to know so you can make the best possible decision for your real estate needs.
Call me today!
Al Fross is a Coldwell Banker Residential Brokerage Sales Associate based in the Bedminster/Bridgewater office. Al has lived in the Bradley Gardens section of Bridgewater since 1993 and has been an active volunteer in many recreational and community organizations including serving as a current member of Bridgewater’s Board of Adjustment and as past Chairman of the Township’s Planning Board. His knowledge of the Bridgewater and surrounding areas makes him the perfect “partner” when selling your existing property or buying your new home.