It’s puffy jacket season! The weather has changed, it’s a little cooler outside, and we’re just days away from starting the holiday season.
Most people believe that the real estate market is seasonal, and that things slow down in the winter. That is simply not true.
There are two things driving the market right now: low inventory and low interest rates. Since supply is still low and demand is still very high, the real estate market is red-hot. If you are thinking of selling your home, you may want to put your home on the market during the fourth quarter of 2017 or the first quarter of 2018.
We recently sold a very well-maintained house with a beautiful backyard. It wasn’t necessarily a showroom property that would have been on the cover of a magazine, but it was a great house with a great seller. We got six offers on this property and sold for 3% over the asking price.
Why? Of course, we did all of the high-end digital photography, online marketing, and syndication that we always do. We also negotiate aggressively to get our sellers the best price possible.
In this case, though, the seller tremendously benefited from low inventory and low interest rates.
Another one of our properties got 14 offers and sold for 10% over the listing price. This property was a fixer-upper in a highly desired neighborhood that was in a red-hot market. That particular market has been hot for years and years. Again, we did everything we always do to help the seller get top dollar, but low inventory and low interest rates certainly helped them as well.
The moral of the story is that supply will be low and demand will be high throughout the fourth quarter of 2017 and the first quarter of 2018. Low inventory will certainly benefit you if you are thinking of selling your home.
If you have any questions or if you are curious about what your home is worth in today’s market, just give me a call or send me an email. I would be happy to help you!