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On the Fence of Whether or Not To Move This Spring? Consider This Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert.

On the Fence of Whether or Not To Move This Spring? Consider This Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert.

By Christophe Choo Posted Apr 21, 2022 Beverly Hills, Latest Updates, Real Estate Articles, Real Estate News, Shared Recommended Articles, What I'm Reading

On the Fence of Whether or Not To Move This Spring? Consider This Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert.

On the Fence of Whether or Not To Move This Spring? Consider This. | MyKCM

If youā€™re thinking ofĀ sellingĀ your house, it may be because youā€™ve heardĀ prices are rising, listings are going fast, and sellers are gettingĀ multiple offersĀ on their homes. But why are conditions so good for sellers today? And what can youĀ expectĀ when you move? To help answer both of those questions, letā€™s turn to the data.

Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latestĀ buyer and seller trafficĀ from theĀ National Association of RealtorsĀ (NAR) to help paint the picture of what this looks like:

On the Fence of Whether or Not To Move This Spring? Consider This. | MyKCM

Notice how much darker the blues are on the left. This shows buyer traffic is strong today. In contrast, the much lighter blues on the right indicate weak or very weak seller traffic.Ā In a nutshell, the demand for homes is significantly greater than whatā€™s available to purchase.

What That Means for You

You have an incredible advantage when youĀ sell your houseĀ under these conditions. Since buyer demand is so high at a time when seller traffic is so low, thereā€™s a good chance buyers will be competing for your house.

According to NAR, in February, the average home sold gotĀ 4.8 offers.Ā When buyers have to compete with one another like this, theyā€™ll do everything they can to make their offer stand out. This could play to your favor and mean youā€™ll see things like waivedĀ contingencies, offers over asking price,Ā earnest money deposits, and more. Selling when demand is high and supply is low sets you up for a big win.

If youā€™re also looking to buy a house, you may be tempted to focus more on just the seller traffic map and wonder if it means youā€™ll have trouble finding yourĀ next home. But remember this: perspective is key. As Danielle Hale, Chief Economist atĀ realtor.com,Ā says:

ā€œThe limited number of homes for sale is a lesson in perspective. This same stat that frustrates would-be homebuyers also means that todayā€™s home sellers enjoy more limited competition than last yearā€™s home sellers.ā€

If you look at the big picture, the opportunity you have as a seller today is unprecedented. Last year was a hotĀ sellersā€™ market. This year, inventory is even lower, and that means an even bigger opportunity for you. Even though finding your next home in a market withĀ low inventoryĀ can be challenging, is that concern worth passing on some of the best conditions sellers have ever seen?

As added peace of mind, rememberĀ real estate professionalsĀ have been juggling this imbalance of supply and demand for nearly two years, and they know how to help both buyers and sellers find success when they move. A skilled agent can help you capitalize on the great opportunity you have as a seller today and guide you through the buying process until you find the perfect place to call your next home.

Bottom Line

If youā€™re ready to move, you have an incredible opportunity in front of you today. Trust the experts. Letā€™s connect so you have expertise on your side that can help you win when you sell and when you buy.

Call Christophe Choo at (310) 777-6342 to tour your future home "HERE"

or click "HERE" to estimate your home value.

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