7 REASONS why now is a good time to sell a home
Low inventory not meeting buyer demand
Like much of the country, Illinois is experiencing ongoing low housing inventory levels and has even hit historic lows this year.
Why it matters: Fewer homes on the market, mean fewer choices for prospective buyers. Homeowners who list a home now can still benefit from the popular summer season and increased buyer demand, while also facing less market competition.
Homes are selling quickly
Homes that are listed are often selling quickly. Days on market fluctuate each month, but even with everything going on, statewide listings on average are selling in under two months.
Why it matters: Homes that are priced right and are in good, move-in ready condition are being snapped up quickly by buyers, making it easier for sellers to move out of their existing home and into their next.
Safety precautions are in place to make the selling transaction easy
Safety is top of mind for both buyers and sellers. REALTORS® have found creative workarounds, whether it be virtual home tours or a more digital transaction process, to showcase a home safely.
Why it matters: Homeowners who want to list their homes now can be assured that there are ways to use technology to get their homes out in front of buyers, while also limiting risk. Buyers also have safety in mind and are expecting more of the process to be online.
Home prices remain strong
Tight inventory amid strong buyer demand benefits sellers by keeping home prices positive and stable. Strong home prices in recent years means many homeowners have also gained more equity in their homes and the home’s value will have appreciated when they do decide to sell.
Why it matters: Strong and steady home prices have been constant for quite a while. That means more money from the transaction when homeowners sell.