The real estate market is looking like it’s making a comeback after the previous years of economic recession. Now, the market has shifted to become a seller’s market and it’s an ideal time to sell your house and make a profit. A seller’s market signifies that there is high demand for houses but a low supply of houses up for sale. For example, the number of active listings in Daphne, AL dropped by 2.1% from the previous month. There are usually several buyers trying to purchase a specific property, therefore, the price is driven up. In Daphne, the current median listing price is just over $234,000. Ultimately, this means that buyers will have to spend more in order to purchase the home they want and sellers will receive a great price on their home.
Why is it a seller’s market?
- Average home prices are on the rise
- Housing inventory is at a premium – meaning your house is one of the few available
- Mortgage rates are increasing, but they are still at all-time lows
- Houses are spending fewer days on the market
All of these points lead to now being the perfect time to list your home and Bellator Real Estate & Development is prepared to walk you through all the steps in doing so. We currently have over 90 REALTORS® in six office locations throughout Lower Alabama. From Saraland, AL to Orange Beach, AL, our agents have the means of spreading the word about your listing over a vast area and range of buyers. Besides local office presence, Bellator has a large web presence to share listing information, consisting of virtual tours, personal listing websites, and social media accounts.
The first step when thinking about selling your house is to find out what it’s worth. You can get this step out of the way by generating a Comparative Market Analysis (CMA) for your property. A CMA will help you determine how your house will sell against competitors. It will provide you with the best and highest price that you should sell your home at, in comparison with other homes that are currently listed in your area and homes that were recently sold. After doing this, you should reach out to an agent to help with analyzing the information and to get a solid estimate of what your home is worth.
Check back with us next week for our next step in our series of “It’s a seller’s market.”
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