If you’re a homeowner who is thinking about selling in 2018, there’s no better time than now to put your house on the market. The Baltimore metropolitan market is a hot seller’s market right now, meaning that there are fewer homes on the market than there are buyers searching for houses. This causes home prices to rise, bidding wars to occur, and can help houses to sell faster. In this competitive seller’s market, there are a few things to keep in mind if you are preparing to list your home. Here’s what to expect during a seller’s market:
Homes prices are on the rise
Due to fewer homes being listed on the market and more eager buyers ready to purchase, home prices will rise with the demand. It’s still incredibly important to price your house right if you want it to sell fast. Buyers are willing to do what they need to in order to get the house they want, so if you price it accurately, you can feel good about the sale price and have your home sell quickly as well.
Low inventory puts your home front and center
Low inventory on the market means your house gets center stage. Buyers will see your listing more often and you’ll have fewer homes to compete with for attention. Your Open Houses will have more interested buyers in attendance and showings will be a regular occurence. With all that going for you, your home will be placed in front of searching eyes both in the newspaper and online and all that attention generates buzz around your property.
When you have too many interested buyers, you might get more than one offer for your house. Your Realtor can help you navigate the tricky waters of accepting the right offer. Getting multiple offers on a property isn’t that uncommon when there are fewer homes to pick from. A bidding war occurs when more than one buyer start to top each other’s offers in order to score your house.
You can be more selective when accepting an offer
Multiple offer situations can be tough but it must make you feel good that so many people want to buy your house! If your house gets multiple offers, you get the luxury of being selective with which buyers you pick.
Your home is on display
Who wouldn’t want to buy during the spring? Homes look beautiful and inviting. Yards are coming back to life, the weather is warmer, and flowers are starting to bloom. More people are likely to be out and about, touring houses during the balmy weather. Putting your house on the market after properly staging it requires will result in a faster sale and a better profit for you.
Spring is the peak time of year to list your house on the market, but truly, any time of year is a great to list when you list with the best. Our team has been ranked Best of Howard County for four years in a row, and Best of Baltimore for two years consecutively. Our numbers don’t lie– we sell one house every four hours and we’re proud of that fact! If you want to get your home sold by Maryland’s best, click here for more information. Good luck with your sale!