The housing market continues to perform strongly in 2021. Buyer demand remains high due to low interest rates and changing trends caused by the pandemic. But there is one thing that the housing market still lacks — homes for sale. There has been a shortage of inventory for quite some time, and although more and more homes are being listed, it’s still not enough to keep up with demand. If you’ve been on the fence about selling your home, then it’s time to consider listing. Fall 2021 is turning out to be an excellent time to sell your home. Here’s what you need to know.
Less competition from other sellers
One of the best things about selling your home during the fall of 2021 is that you’ll see less competition. In any market, you want your home to stand out from the rest. But when there’s a shortage of homes for sale, it’s easy to get attention from buyers. In essence, you will be selling during a seller’s market, and there really is no better time than that.
Still need to price your home correctly
Even though there are more buyers than there are homes for sale, that doesn’t mean you can price your home sky high. If you price your home too high from the beginning, then you’ll likely scare away most buyers. They will see that your home is priced more than other comparable homes in your area. Your home could sit on the market for too long while buyers wait for a price reduction. You’ll be in a better position if you price your home correctly from the beginning. It’s entirely possible that you’ll still receive offers at, near, or above your asking price.
Get your home ready for listing
Buyers still want to see homes that are well taken care of. You’ll get more and better offers if you properly prepare your home for listing. This means de-cluttering, de-personalizing, and cleaning your entire home. Make small repairs like fixing leaky faucets or patching holes in drywall. Paint your rooms in neutral colors and spruce up your curb appeal. If you think your home may need major upgrades before listing, then talk to your agent. They can advise you about whether or not it makes sense to make those repairs or let the buyer do it once you close.
Be prepared for multiple offers
You may receive multiple offers on your home in today’s market. It is not uncommon in these unusual times for homes to spark bidding wars amongst buyers. The competition for homes is fierce, and some buyers will go to any length to make sure their offer stands out. But when you get multiple offers you need to know how to deal with them. Sometimes you may decide to choose the offer for the most money. Other times, you may wish to choose the offer that lets you stay in your home until you find a new one to buy. Or you may be swayed by the buyer’s personal story and attraction to your home. Ultimately, you need to decide what your priorities are when selling so that you can choose the offer that best meets those needs.