MY BLOG - Working For You Every Step of the Way!

head_left_image

Best Time to Sell in Leisure World Maryland? When Competition Is Low.

Best Time to Sell in Leisure World Maryland? When Competition Is Low.

Best Time to Sell? When Competition Is at an All-Time Low | MyKCM

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.

The latest Existing Home Sales Report published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in this country last month. NAR’s most recent Pending Sales Report (homes going into contract) surpassed last month’s number by over 44%, which far exceeded analysts’ projections of 15%. ShowingTime reported that appointments to see homes (both virtually and in-person) have increased in every region of the country and are up 21.4% nationwide over the same time last year.

While buyer activity is surging, the number of listings has fallen to an all-time low. Zelman Associates, in their latest residential real estate report, revealed that housing inventory as a percentage of households has fallen to 1.2%, which is half of the long-term average and lower than any other time in our history.

Bidding Wars Heating Up Again

With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a recent blog post, revealed:

“On average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers).”

Bidding wars guarantee houses sell quickly at a price near or even slightly over the listing price.

Bottom Line

If you’re thinking of selling, don’t be concerned about putting your house on the market right now. There’s no better time to sell an item than when demand for it is high and supply is low. It is exactly at that time when you will negotiate your best possible deal.

My AR banner 2017

Barbara Michaluk, Realtor

Phone 240-506-2434

Email: michaluk@verizon.net  /  Web: BarbaraSellsMDhomes.com

Authorized Leisure World Specialist / Senior Real Estate Specialist /
Internet Marketing Specialist / Certified E-Pro / Certified Staging Agent

Weichert Realtors / 3816 International Dr / Silver Spring, MD 20906

Authorized Leisure World Specialist     Barbara Michaluk Graduate Internet Marketing Specialist Barbara Michaluk Senior Real Estate Specialist   

Comment balloon 1 commentBarbara Michaluk • July 08 2020 02:29PM
Best Time to Sell in Leisure World Maryland? When Competition Is Low.
share
Best Time to Sell in Leisure World Maryland? When Competition Is Low. In a recent survey of home sellers by Qualtrics 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of… more
How Pricing Your Leisure World of MD Home Right Makes a Big Difference
share
How Pricing Your Leisure World of MD Home Right Makes a Big Difference We're getting ready to experience a buyer demand for homes in today’s low inventory market as the COVID restrictions are loosening. Here’s why making sure you price it right… more
Thinking of Selling your Leisure World Home? Don't “For Sale By Owner”
share
Thinking of Selling your Leisure World Home? Don't “For Sale By Owner” Rising home prices coupled with the current inventory in today's market may cause some homeowners to consider selling their homes on their own (known in the industry as a For… more
3 Mistakes to Avoid When Selling a Leisure World Home in 2020
share
3 Mistakes to Avoid When Selling a Leisure World Home in 2020 It’s exciting to put a house on the market and to think about making new memories in new spaces, but we can have deep sentimental attachments to the homes we’re leaving behind, too… more
Tips to Sell Your Leisure World Maryland Home Faster
share
Tips to Sell Your Leisure World Maryland Home Faster When selling your house, there are a few key things you can prioritize to have the greatest impact for a faster sale: 1. Make Buyers Feel at Home Declutter your home! Pack away all personal… more
The #1 Reason to List Your Leisure World Home in the Winter
share
The #1 Reason to List Your Leisure World Home in the Winter Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every… more
Thinking of Selling Your Leisure World MD Home?
share
Thinking of Selling Your Leisure World MD Home? Use an Authorized Leisure World Specialist As a Senior Real Estate Specialist® I am very knowledgeable to help you address all your needs to prepare and sell your home in Leisure World of Maryland… more
Selling in Leisure World MD? 5 Real Estate Acronyms You Need to Know
share
Selling in Leisure World MD? 5 Real Estate Acronyms You Need to Know Some Highlights: Learning the lingo of homebuying is an important part of feeling successful when buying a home. From APR to P&I, you need to know the acronyms that will… more
Selling in Leisure World MD -- What to Expect from a Home Inspection
share
Selling in Leisure World MD -- What to Expect from a Home Inspection You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home… more
Home Prices are Increasing in Every Price Range
share
Home Prices are Increasing in Every Price Range CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3. 6% year over year in July 2019 and are forecast to increase 5. 4% from July 2019 to July 2020. ” They also… more