Still a good time to sell your home – Tampa, Florida

If you are looking to sell your home, now is the time to do it.

“This is a great opportunity to withdraw cash and the inventory is low here so it has been a seller’s market for a while,” said Edwin Maldonado.

Maldonado is a Kingston, NY based real estate agent. Average home sales prices are skyrocketing in this vast suburb, about two hours from New York City. 35 or more year-on-year%. According to the National Association of Real Estate Agents, this is the highest increase in the country.

“We didn’t have a plan to sell our property – we’ve been around for a long time… but the nature of this industry is that if you like the stock market, you buy low. It’s really hard to say no when you can wait 10 years to make as much money on a single transaction as you do now, “said Mike Wood.

In Kingston, homes are being robbed quickly, especially by those who want more space away from the Big Apple. Since the pandemic began, Wood has sold three properties in the area.

“I think one of them went on the market before and after Labor Day and had offers. There were several offers in 5-6 days, ”said Wood.

Nationwide, low interest rates and large pools of buyers are intensifying competition. Typical house now only spends 15 days. According to the Federal Association of Real Estate Agents, it is on the market.

Darryl Fairweather, Redfin Chief Economist, said: ..

Aside from the pandemic, there are several other factors that are driving housing demand. Almost 5 Million Millennials Turning 30 This Year And Many Are Trying To Buy A Home. And it’s easier to buy a home thanks to current mortgage rates. Driven to the lowest ever level in 2020 ..

“At least I think we need to keep mortgage rates up to keep up with the demand we are seeing. But when mortgage rates go up, it’s a little cool. Demand. That’s not always the worst. “

In the meantime, Redfin datasets are still well below pre-pandemic levels. And more than half of the homes listed are being sold at the prices above. The nationwide median home sales price is now over $ 377,000, a new record.

“Especially in the price range of certain types of sweet spots, there are a lot of people looking for the property, probably between $ 200,000 and $ 400,000, and they’ll be there soon. You have to get in. You have to be proactive. With their offer. ”

“In the long run, the demand for homes will increase, and we hope we can build enough homes to meet that demand,” said Fairweather.

This story was first reported by Katherine Biek on Newsy.com.

Still a Great Time Selling Your House Source link It’s still a great time selling your house

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