To Sell or Not to Sell?

Is now a good time to sell your home?

2020 is a year like no other. As a result, the way we typically consult our clients during the fall season is quite different today. This is driven by some important market conditions you should consider when selling your home.

In review, the spring started off extremely slow due to the pandemic. Once real estate was finally designated as essential, the market responded with a surge in the summer, and we are still riding that wave into the fall. The number of homes closed in 2020 - bearing in mind that we had a four month pause on the market - is up by an incredible 42% over 2019.

No one anticipated a rebound quite like this.

"We anticipate that these trends will carry over into a strong 2021 market."

The average price for Chester County homes is currently $395,000, which amounts to a 6% year-over-year appreciation in value. In other words, your home is worth 6% more this year than it was at the same time last year.

Interest rates are the lowest they have been in our country’s history. Buyers are getting qualified for 30-year fixed-rate mortgages under 3%. The culmination of these conditions has created an influx of buyers in the market and a significant jump in property values.

So, does this mean that now is a good time to sell overall?  It absolutely does. You are now more likely to realize the highest possible price for your home due to these unique conditions. If your home is priced correctly and marketed effectively, you may see offers over asking price while selling in record time.  We anticipate that these trends will carry over into a strong 2021 market.

To set up an appointment for a private consultation, or if you have any questions, please reach out to us. It is our passion to help guide you through this interesting time.