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

<article class="post-274897 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-274897"><span class="entry-date">April 28, 2022</span><div class="entry-header center-block text-center"><h1 class="entry-title">What You Need To Know About Selling in a Sellers’ Market</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=What+You+Need+To+Know+About+Selling+in+a+Sellers%E2%80%99+Market&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhat-you-need-to-know-about-selling-in-a-sellers-market%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="What You Need To Know About Selling in a Sellers' Market | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155732/20220428-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155732/20220428-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155732/20220428-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>Even if you haven’t been following real estate news, you’ve likely heard about the current <a href="https://www.simplifyingthemarket.com/2022/04/01/its-still-a-sellers-market-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">sellers’ market</a>. That’s because there’s a lot of talk about how strong market <a href="https://www.simplifyingthemarket.com/2022/03/14/this-spring-presents-sellers-with-a-golden-opportunity/?a=712984-fa409495d5d70154d03a25e81e9540e2">conditions</a> are for people who want to <a href="https://www.simplifyingthemarket.com/2022/04/14/on-the-fence-of-whether-or-not-to-move-this-spring-consider-this/?a=712984-fa409495d5d70154d03a25e81e9540e2">sell their houses</a>. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?<span id="more-46393"></span></p>
<h4><strong>What Is a Sellers’ Market?</strong></h4>
<p>The latest <a href="https://cdn.nar.realtor/sites/default/files/documents/ehs-03-2022-overview-2022-04-20.pdf"><em>Existing Home Sales Report</em></a> from the <em>National Association of Realtors</em> (NAR) shows housing supply is still very low. <strong>There’s a 2-month supply of homes at the current sales pace. </strong></p>
<p>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 (<em>see graph below</em>):</p>
<p><a href="https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155734/20220428-MEM-Eng-1.png"><img alt="What You Need To Know About Selling in a Sellers' Market | Simplifying The Market" class="aligncenter wp-image-46397" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155734/20220428-MEM-Eng-1.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155734/20220428-MEM-Eng-1.png 1000w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/25155734/20220428-MEM-Eng-1-400×300.png 400w" width="650"/></a></p>
<h4><strong>What Does This Mean for You When You Sell?</strong></h4>
<p>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 <a href="https://www.simplifyingthemarket.com/2022/03/10/how-to-navigate-a-market-where-multiple-offers-is-the-new-normal/?a=712984-fa409495d5d70154d03a25e81e9540e2">bidding wars</a>. 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.</p>
<p>And because <a href="https://www.simplifyingthemarket.com/2022/04/20/how-to-approach-rising-mortgage-rates-as-a-buyer/?a=712984-fa409495d5d70154d03a25e81e9540e2">mortgage rates</a> and <a href="https://www.simplifyingthemarket.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/?a=712984-fa409495d5d70154d03a25e81e9540e2">home prices</a> are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house <a href="https://www.simplifyingthemarket.com/2022/03/18/spring-cleaning-checklist-for-sellers-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">on the market</a> while supply is still low, it will likely get a lot of attention from competitive buyers.</p>
<h3><strong>Bottom Line</strong></h3>
<p>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.</p>
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