Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year is expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring.
Buyers Are Looking Right Now, and They’re Ready To Purchase
At this time of year, people who are serious about buying a home will be in the market, so you and your loved ones won’t be inconvenienced by casual searchers. In December 2021, homes in the Denver Metro area were being purchased and taken off the market in approximately 18 days, which is six days fewer than in December 2020.
The takeaway for you is that there are purchasers in the market, and they’re ready and willing to buy.
Other Sellers May Plan To List Earlier This Year
The law of supply and demand tells us that if you want the best price possible and the ability to negotiate your ideal contract terms, you should put your house on the market when there’s strong demand and less competition. The number of New Listings in the Denver Metro area in December 2021 was 29% fewer than November 2021, so listing your home sooner rather than later—before more competition hits the market—makes sense.
Newly Constructed Homes Could Be Your Competition Later This Year
Many new single-family housing units were delayed because of labor shortages and supply chain bottlenecks brought on by the pandemic. However, if those homes are completed in 2022, they will create additional competition when you sell your house. Beating these newly constructed homes to the market is something you should consider to ensure your house gets as much attention from interested buyers as possible.
There Will Never Be a Better Time To Move-Up
If you’re moving into a larger, more expensive home, consider doing it now. You can still lock in your 30-year housing expense with a mortgage rate in the low 3’s right now. If you’re thinking of selling in 2022, you may want to do it now instead of waiting, as mortgage rates are forecast to rise throughout the year.
It May Be Time for You To Make a Change
Consider why you’re thinking of selling in the first place and determine whether it’s worth waiting. Is waiting more important than being closer to your loved ones now? Is waiting more important than having the space you truly need?
Only you know the answers to those questions. Take time to think about your goals and priorities for 2022 and consider what’s most important to act on now.
If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, talk with a local real estate professional who can help you decide the best time to put your house on the market.
Stay tuned for the full Denver Metro Market Stats Insider Report for December 2021!