Due to pandemic-related disruptions over the past two years, the real estate market has completely changed and decidedly favors sellers. If you want to take advantage of this market and extract as much value out of your property as possible, now is the time to sell.
After a few years of pandemic-related craziness, it looks like seasonality is starting to return to the housing market. That’s all encouraging for sellers, but they should also make haste because mortgage rates will continue to rise throughout the year. These rising rates will make buyers’ offers more conservative and reduce affordability and demand. Additionally, more sellers are likely to enter the spring market, increasing competition. Builders could also start to accelerate construction if the supply chain and labor shortages improve. This will also create more competition for sellers. All of these factors mean that now is the time to sell.
If you have any questions about the market, or are curious about what your home is worth in today’s market, or if you’re thinking about buying or selling, don’t hesitate to call me at 206-618-5123 or email me at Penny@TheOriginalPenny.com. I’m here to help you meet your real estate goals in this shifting market. I look forward to hearing from you.
Serving: Bainbridge Island, Poulsbo, Silverdale, Kingston, Bremerton, Port Orchard, Port Ludlow and Ocean Shores.