The Big Advantage If You Sell This Spring

<article class="post-667624 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-667624"><span class="entry-date">April 11, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">The Big Advantage If You Sell This Spring</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=The+Big+Advantage+If+You+Sell+This+Spring&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-big-advantage-if-you-sell-this-spring%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="The Big Advantage If You Sell This Spring Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20230411-the-big-advantage-if-you-sell-this-spring-KCM.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Thinking about selling your house? If you’ve been waiting for the <a href="https://www.simplifyingthemarket.com/2023/04/10/homebuyer-activity-shows-signs-of-warming-up-for-spring/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">right time</a>, it could be now while the supply of homes for sale is so low. <em>HousingWire </em><a href="https://news.move.com/2023-03-30-Realtor-com-R-March-Housing-Report-Spring-Thaw-Lures-Buyers-Back-into-the-Housing-Market" rel="noopener noreferrer" target="_blank">shares</a>:</p>
<blockquote><p><em>“. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”</em></p></blockquote>
<p>The <em>National Association of Realtors</em> (NAR) <a href="https://www.nar.realtor/newsroom/existing-home-sales-surged-14-5-in-february-ending-12-month-streak-of-declines" rel="noopener noreferrer" target="_blank">confirms</a> today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And today, the number is much lower:</p>
<blockquote><p><em>“Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year ago (850,000). </em><strong><em>Unsold inventory sits at a 2.6-month supply at the current sales pace</em></strong><em>, down 10.3% from January but up from 1.7 months in February 2022.”</em></p></blockquote>
<h4><strong>Why Does Low Inventory Make It a Good Time To Sell?</strong></h4>
<p>The less inventory there is on the market when you <a href="https://www.simplifyingthemarket.com/2023/04/04/two-reasons-you-should-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">sell</a>, the less competition you’re likely to face from other sellers. That means your house will get more attention from the buyers looking for a home this spring. And since there are significantly more buyers in the market than there are homes for sale, you could even receive more than one offer on your house. <a href="https://cdn.nar.realtor/sites/default/files/documents/2023-02-realtors-confidence-index-03-21-2023.pdf" rel="noopener noreferrer" target="_blank">Multiple offers</a> are on the rise again (<em>see graph below</em>):  </p>
<p><a href="https://files.keepingcurrentmatters.com/content/images/20230410/20230411-average-number-of-offers-received-on-the-most-recent-closed-sale-MEM.png" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/content/images/20230410/20230411-average-number-of-offers-received-on-the-most-recent-closed-sale-MEM.png"/></a></p>
<p>If you get more than one offer on your house, it becomes a bidding war between buyers – and that means you have greater leverage to sell on your terms. But if you want to maximize the opportunity for a bidding war to spark, be sure to lean on your expert real estate advisor. While we’re still in a strong <a href="https://www.simplifyingthemarket.com/2023/03/30/were-in-a-sellers-market-what-does-that-mean/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">sellers’ market</a>, it isn’t the frenzy we saw a couple of years ago, and today’s buyers are focused on the houses with the greatest appeal. Clare Trapasso, Executive News Editor at <em>Realtor.com</em>, <a href="https://news.move.com/2023-03-30-Realtor-com-R-March-Housing-Report-Spring-Thaw-Lures-Buyers-Back-into-the-Housing-Market" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote><p><em>“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country. So, </em><strong><em>this spring, it’s especially important for sellers to make their homes as attractive as possible to appeal to as many buyers as possible</em></strong><em>.”</em></p></blockquote>
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