Do you need to sell your house in New Jersey? If you’ve had your home on the market this past spring or summer, you likely had some difficulty generating interest while also getting the price you desired. However, it turns out that the market is now trending in your direction, and it is the perfect time to put your property up for sale. To get you motivated if you still aren’t quite sure if you’re ready to take the plunge, here are 4 reasons why right now is the best time to sell your house in New Jersey.
High Demand, Low Supply
As time living under stay-at-home orders has passed in many areas, people have gotten more comfortable with the current reality and have begun finding ways to adapt aspects of their lives to return to some semblance of normal.
For most homebuyers, this originally meant scrapping their plans to move entirely or dealing with a dramatically shifting set of circumstances to accomplish their buying goals. In turn, this led to many people taking their homes off the market, and now the inventory of available homes is at a low point.
The previously beleaguered home buyers have started to come out of the woodwork to resume their searches with newfound hope in finding the right properties to meet their needs before the ice and snow rear their heads. This leaves home sellers in a position to field a flood of offers if they do some upfront maintenance work, price competitively, and play their cards right.
Property Values Are Way up
Another effect of the supply and demand dynamics we are seeing is an explosion in home values.
Demand drives the market, and the more interested buyers you have staking out your place, the higher your bids are going to get when you sell your house in New Jersey.
In the desirable situation in which home sellers find themselves, it is not at all uncommon for a seller to end up in the middle of a bidding war between two potential buyers. This means being prepared to use that leverage in negotiations to carefully get exactly what you want out of any deal that is struck.
Leaning on the negotiation tactics and experience of a qualified real estate professional will go a long way to make sure you get the most out of any offers on the table.
Economic Indicators Are Good
Through the pandemic, the federal government has worked to assist in creating a favorable economic climate in order to maintain the well-being of individuals and families.
The biggest factor in helping the average American was the Federal Reserve reducing interest rates, effectively making mortgages easier to obtain at cheaper rates. This has led to an influx of mortgage refinances, and helped stabilize the real estate market.
As time goes on, we’re seeing economic forecasts even out, and markets returning to an expected equilibrium. With the increased economic confidence comes higher mobility amongst homeowners, making it a great time to sell your house in New Jersey.
Evolving Buyer Needs
One final and massive point that cannot be ignored is that the global pandemic that has defined the vast majority of 2020 has spurred a lot of change both inside and outside households.
Entire sectors of the workforce have morphed kitchen tables and dens into office workspaces out of pure necessity. It’s fair to assume this change is not as temporary as some may think, and buyers will be entering showings while keeping in mind what they truly need to get out of the available space.
Making the effort to highlight those helpful spaces and features in your for sale home will make it stand out, and is the perfect opportunity to cash in on an emerging market trend.
Professional Help to Sell Your House in New Jersey
If you’re thinking now is the right time to sell your house in New Jersey, contact us today for help at 908-448-2770!