June 01, 2022 at 1:25pm | Alice Siegel

What You Need To Know About Selling in a Sellers’ Market

What You Need To Know About Selling in a Sellers' MarketEven if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That’s because there’s a lot of talk about how strong market conditions are for people who want to sell their houses. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?

What Is a Sellers’ Market?

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace.
Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory (see graph below):

What You Need To Know About Selling in a Sellers' Market

What Does This Mean for You When You Sell?

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.
And because mortgage rates and home prices are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

The current real estate market has incredible opportunities for homeowners looking to make a move. Listing your house this season means you’ll be in front of serious buyers who are ready to buy. Let’s connect so you can jumpstart the selling process.

Check out our FREE Market Evaluation Report and find out your home is worth!  
Let’s connect today to discuss the options that are best for you.
Watermark Real Estate Group: 843-989-0065


Let's Connect Today!  📲
Radha Herring, Broker | 843-424-8811
rherring@watermarkagents.com
Watermark Real Estate Group
Big Corporate Experience | Small Business Heart
 
 
 
watermarkRE @yourmyrtlebeach @watermarkagents watermark-real-estate-group  Zillow Premier Agent | Radha Herring, Broker Watermark Real Estate Group @radhaherringrealtor  Radha Herring, Broker | Watermark Real Estate Group

Share

check_circle

You message has been sent!

Send us a Message


You agree to receive automated promotional messages from YourMyrtleBeach regarding real estate information and education.Click here for terms and privacy policy. Message frequency varies. To opt out of receiving messages from me, text STOP to cancel. Reply HELP for help. Message and data rates may apply.