As interest rates began to rise, I started getting a question I haven’t heard since the beginning of the pandemic: Is it STILL a good time to sell my house?
The short answer is: Yes!
There is an assumption that rising rates have pushed prices down. However, that has not yet happened.
There was a house on the market as recently as last week that had 7 offers and went for well over the asking price. This would not surprise me in the pandemic market, and it would not surprise me with a turnkey sale, but this house was not turnkey. In fact, it needed quite a bit of repair and seemed like an ambitious undertaking for any buyer. Still, many people were interested.
This is in part because inventory remains low – more buyers than available houses. But it also speaks to a truth that is important to for both buyers and sellers:
Sellers: Your house doesn’t need to be “perfect” in order to sell it.
Buyers: A house that’s not “perfect” can still be a really great purchase.
I’m going to write in more detail about this in my next post, but for now, please know that the market is still going strong for the time being. I’m seeing houses sell that still have oil tanks in the ground and knob & tube wiring!
If you’ve thinking of selling and worry that you’ve missed your window – you have not. Feel free to reach out and let me guide you on how to list your home in these ever-evolving times.
Talk or text: 973-809-5277