With properties moving quickly, and many receiving multiple offers, it is a seller’s market in Connecticut. This makes it an incredible time to sell your home!
Here’s what you need to know to make the most of selling during a seller’s market.
What Low Inventory Means for You
Inventory has been on the decline for years, and has recently reached new lows. With fewer homes on the market, buyers are eager to get in the door of any property in their desired location.
If you planning to sell this year, expect multiple showing requests, starting from day one of listing your property. This can make for an intense few days, but often that’s all it takes for sellers to accept an offer – a few days (or less!).
Staging Your Home Still Helps
Getting your home looking its best is essential, no matter what type of market it is. You don’t have to go all-in and remodel every room, but a thorough cleaning and decluttering go a long way. Be sure to put away personal items, neutralize any odors, and stage furniture in a way that helps potential buyers see themselves living in the home.
The first impression buyers have of your home is listing photos, so ensuring it looks its best is essential to marketing your property.
“Even in this market, a lot of sellers are leaving money on the table because the agent didn’t use their full marketing arsenal. We use everything at our disposal, specific to their home, to get them all the money they deserve on the sale.”Byron Lazine, One + Company Team Lead
Listing Price Matters
Sellers sometimes get eager for a larger profit during a seller’s market. Yes, you will be able to get more for your property than years past, but make sure you don’t drive away potential buyers by going too high. Your real estate agent can break down recent comparable sales in your area, helping you land on a list price that will attract the right buyers.
Select a Listing Day that Works for You
Remember, once you list your home, chances are, the showing requests will start pouring in. Select a date that allows you some flexibility, so that you can leave the property during showings.
Have a Moving Plan
Do you have a place to live after selling your home? Whether you plan on buying a new home or renting, it’s best to have a plan (and a backup plan) before listing your home for sale. While a traditional closing with a mortgage generally takes around 45 days, an all-cash offer may put you in a position to move in 30 days or less. Having your new home ready helps alleviate any stress around selling.
It’s important to know that you won’t be managing all this on your own. Your listing agent will walk you through every step of the process, ensuring you get the most out of your home sale. If you have questions about selling in today’s market, contact us!