For many buyers…the struggle is needing to sell a home before they can buy a home. The struggle is that recent years has been a great time to buy. But a bad time to sell. The lower prices you want to see as a buyer are hurting you as a seller.
So what is the sweet spot and why could it be in 2017? Our local market has been showing improvements over the last year or so. And most Realtors are reporting improving sales. Improved sales are defined by one or more improving trends. It could be faster sales, higher sale prices, or less properties on the market.
Most agents are already seeing the faster sales and the lower number of properties on the market. Which means most agents are seeing or at least predicting an increase sale prices. So as this trend continues…that helps you as a seller. But it has not yet switched to a seller’s market…so overall, prices are still fairly low, thus not yet hurting you as a buyer.
So 2017 may be the sweet spot where you can finally get enough for the home you want to sell…while not yet paying a much higher price for the home you are buying. The sweet spot is just that…a short period of time where older listings on the market are still priced lower, while the newer listings on the market tend to be priced based on the improving trend.
Every town, community, and region is different. And towns or communities very near each other, may hit the “sweet spot” at slightly different times. So make sure you talk to your Realtor for specific information.
I would be happy to assist you with this.
I can be reached at 757-894-1479 or 757-336-3200.