Here are just a few reasons why now may be a great time to sell your home.
What makes now an exceptionally good time to sell a home? For starters, interest rates are extremely low—the lowest they’ve been in quite some time. The New York Times reported on July 16 that most mortgage rates are at or below 3%.
Of course, it depends on who you use for your mortgage, but we can direct you to a certified lender who can help you get the best rate possible. When you have a lower interest rate, your monthly mortgage payment will be lower too. That’s more money in your pocket (who couldn’t use a little more of that these days?).
Additionally, the absorption rate is down from last year. In June 2019, that rate was at 2.79 months; this past June, it dipped to 1.89 months. That means homes are selling a little quicker, and while we can’t guarantee that’ll be true for every single home, we have found that our listings have been moving fast. Sometimes, the home’s off the market a day after being listed, and in other cases, it may stay on for a week or so. We have the tools in place to help get your home ready to sell quickly.
Housing prices have held steady (in some price points, they’ve even risen) thanks to the high demand we’re seeing. We’re getting multiple showings on each listing that we have, which usually leads to multiple offers and a higher sale price.
If you’re still unsure whether it’s the right call to sell in this environment, know that our agents are taking all the necessary safety precautions. Understandably, sellers may feel wary letting strangers walk through their home given the health crisis, but for our showings, we’re trying to mandate masks, gloves, sanitizing wipes, and distancing measures; only one person—the agent—touches the light switches and doorknobs, and these areas are disinfected before and immediately following all showings. We want to do everything we can to make the selling process as safe as possible for our clients and the community.
Give us a call at 502-548-2700 if you have any further questions about selling in today’s market. Here at Dream JP Pirtle Realtors, we have a proven, repeatable strategy to get your home sold quickly and for the best price possible. We’d love to have an in-depth conversation centered around your real estate needs.