It’s spring in Maryland. This means that it’s finally getting warmer, baseball season is on its way, and your home will sell faster if you list it right now. Bold language, we know, but with the current market conditions, you’ll thank us later. If you’re thinking about selling your house this summer, learn why getting a head start on the spring market is the best way to get ahead.
Maryland real estate had a slow start but is gaining traction
The Maryland real estate market was a little slow during January and February this year, but now that we’re at the end of March, things are starting to move much faster. Listing your home now, while there are fewer listings on the market will ensure it receives the time and attention your house deserves. Summer and fall will be the busy season and selling now avoids the stress of the high season.
Mortgage rates are rising
Rates have gone up this year and are expected to rise again. This means that if you plan to sell your house and buy another, the sooner you sell, the sooner you can lock in to a lower rate. Don’t get stuck with a higher mortgage rate just because you waited to put your home on the market. Plus, we are in the middle of a strong seller’s market, which swings the odds in the favor of the seller.
Buyers are moving to the suburbs again
If you have a house in the suburbs, now is the time to celebrate. Some major cities are becoming increasingly undesirable to their patrons and more folks are moving back to the ‘burbs. If you’ve lived in your house a long time and are thinking of either upgrading to a larger home for your expanding family or downsizing in order to save money, this is the perfect time. Inventory on the market is low, which means list prices go up because there are fewer homes for buyers to choose from and many bidding wars will occur. The time to sell your house in the suburbs is now!
Millennials and Baby Boomers will be the stars of the real estate market
If you have a home to sell, making it appealing to Millennials or Boomers will hopefully help it to sell faster. These two groups will run the real estate market during the spring and summer months. Millennials, who have been slow to buy homes as a whole, are starting to gain traction in real estate and will be the biggest number of purchasers in the coming years. Baby Boomers are getting into their retirement years and are looking to downsize their homes.
If you are even thinking about selling your home in the next year or so, don’t wait! The perfect time is now. Let Bob Lucido or one of his team members come to your home to do a free analysis and consultation. There’s no pressure to sign, but you can learn more about the benefits of listing now. Give Bob a call today at his personal number: 410-979-6024 to learn why listing your home now is the smartest thing you could ever do.