Thinking about selling your home? With inventory at historic lows, prices at or near record highs, and multiple offers common, it’s a perfect time to list your home. Here’s why:
1) The market significantly favors sellers.
Last month, 53.6% of homes sold in fewer than 15 days. And 39% of homes sold for over asking price.
2) Experts believe interest rates are on the rise. Higher interest rates decrease the amount buyers can pay for a property- and decrease your profits.
The median price for a home sold on the Eastside is $803,500. At today’s interest rate of 4.2%, that would equal a monthly mortgage payment of $3,929. If interest rates increase just a half a percent to 4.7%, that same monthly payment allows a buyer to purchase a home worth just $757,400. The bottom line: As interest rates increase, your pool of buyers decreases.
3) Historically, February through June…
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