If you're thinking about selling your home, now might be the perfect time to do it. One of the key reasons why it's a great time to sell is because inventory is low. This means that there are fewer homes on the market, which can drive up the number of offers which almost always increases your selling price.
So why is inventory low? Well, it's been raining, a lot. Sellers typically prefer to show homes that are clean and bright with lots of sunlight, and they prefer to have people going through their homes when it's not going to make a huge mess. It also cannot be ignored that the pandemic created a backlog of potential sellers who were waiting for conditions to improve before putting their homes on the market.
Although interest rates are hovering around 6% now, Buyers are understanding that this is the new norm and are diving in head first! However, there simply aren't enough homes available to meet this demand, which is driving up prices and making it a great time to sell.
And guess what else? We are back to a multiple offer market! That's right!
Here's Mountain View: All three categories (Home, Condo and Townhome) are selling over the asking price on average.
And for Los Altos, while condos and townhomes are selling over the average asking price, homes are selling just a touch under, with average asking price just $5,155.00 under asking price.
OK, so what about Sunnyvale? Well, average prices on homes and townhomes are over ask and condos are just a tad bit under.
We are hearing of up to 20 offers on properties now, which makes this the perfect time to work the super bloom of Spring in your favor!
Call me today to get the ball rolling! You've "got agent"!
Information taken from the MLS April 20, 2023