The Perks of Selling Your House When Inventory Is Low

<article class="post-830438 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-830438"><span class="entry-date">October 24, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">The Perks of Selling Your House When Inventory Is Low</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+Perks+of+Selling+Your+House+When+Inventory+Is+Low&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-perks-of-selling-your-house-when-inventory-is-low%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 Perks of Selling Your House When Inventory Is Low Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20231024-The-Perks-of-Selling-Your-House-When-Inventory-Is-Low.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p><span style="color: rgb(33, 33, 33);">When it comes to </span><a href="https://www.simplifyingthemarket.com/2023/09/19/your-home-equity-can-offset-affordability-challenges/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">selling your house</a><span style="color: rgb(33, 33, 33);">, you’re probably trying to juggle the current market conditions and your </span><a href="https://www.simplifyingthemarket.com/2023/10/18/what-are-the-real-reasons-you-want-to-move-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">own needs</a><span style="color: rgb(33, 33, 33);"> as you plan your move. </span></p>
<p><span style="color: rgb(33, 33, 33);">One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current </span><a href="https://www.simplifyingthemarket.com/2023/08/25/todays-housing-market-has-only-half-the-usual-inventory-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">inventory</a><span style="color: rgb(33, 33, 33);"> situation and what it means for you.</span></p>
<h4><strong>The Supply of Homes for Sale Is Far Below the Norm</strong></h4>
<p>When you’re selling something, it helps if what you’re selling is in demand, but is also in <a href="https://www.simplifyingthemarket.com/2023/09/14/why-is-housing-inventory-so-low/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">low supply</a>. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. There are more buyers looking to buy than there are homes for sale.</p>
<p>To tell the story of just how low <a href="https://www.simplifyingthemarket.com/2023/09/27/why-todays-housing-inventory-shows-a-crash-isnt-on-the-horizon/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">inventory</a> is, here’s the latest information on active listings, or homes available for sale. The graph below uses <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">data</a> from <em>Realtor.com</em> to show how many active listings there were in September of this year compared to what’s more typical in the market.</p>
<p><a href="https://www.simplifyingthemarket.com/content/images/20231023/20231024-The-Supply-of-Homes-for-sale-Is-Still-Low.png?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/content/images/20231023/20231024-The-Supply-of-Homes-for-sale-Is-Still-Low.png"/></a></p>
<p></p>
<p>As you can see in the graph, if you look at the last normal years for the market (<em>shown in the blue bars</em>) versus the latest numbers for this year (<em>shown in the red bar</em>), it’s clear <a href="https://www.simplifyingthemarket.com/2023/09/29/explaining-todays-low-housing-supply-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank"><strong>inventory</strong></a><strong> is still far lower than the norm.</strong></p>
<h4><strong>What That Means for You</strong></h4>
<p><a href="https://www.simplifyingthemarket.com/2023/08/30/buyer-traffic-is-still-stronger-than-the-norm/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">Buyers</a> have fewer choices now than they did in more typical years. And that’s why you could still see some great perks if you sell today. Because there aren’t enough homes to go around, homes that are priced right are still selling fast and the average <a href="https://www.simplifyingthemarket.com/2023/09/04/why-its-still-a-sellers-market-today/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">seller</a> is getting multiple offers from eager buyers. Based on the latest data from the <a href="https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index" rel="noopener noreferrer" target="_blank"><em>Confidence Index</em></a> from the <em>National Association of Realtors</em> (NAR):</p>
<ul>
<li>69% of homes sold in less than a month.</li>
<li>2.6 offers: the average number of offers on recently sold homes.</li>
</ul>
<p>An <a href="https://www.realtor.com/research/september-2023-data/" rel="noopener noreferrer" target="_blank">article</a> from <em>Realtor.com</em> also explains how the limited number of houses for sale benefits you if you’re selling:</p>
<blockquote><p>“. . . <em>homes spent two weeks less on the market this past month than they did in the average September from 2017 to 2019 . . . </em><strong><em>as still-limited supply spurs homebuyers to act quickly</em></strong><em> . . .”</em></p></blockquote>
<h3>Bottom Line</h3>
<p>Because the supply of homes for sale is so low, buyers desperately want more options – and your house may be just what they’re looking for. If you work with a trusted local agent to get your house listed at the right price for today’s market. You could still see it sell quickly and potentially get multiple offers.</p>
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