In real estate, summer is king. Except in 2020 when the world changed right before our eyes. Typically, the spring and summer real estate markets are the most active of the year. Families with kids want to make sure they’ve relocated before the school year starts, so they tend to wrap up their home purchase by August. But this year, the housing market has been turned on its ear. For a number of reasons, fall has emerged as one of the best times to sell your North County San Diego home. Here are four reasons why.
There’s a shortage of homes for sale
Home sellers were understandably hesitant to list their homes for sale in the spring. After all, who wants unfamiliar people touring your home during a pandemic? Not only that, but it was unclear at that time what would happen to the economy and specifically the housing market. While more homeowners are emerging from those uncertain days and beginning to list their homes again, there is still a shortage of inventory. Listing now means putting your home in front of eager buyers who are ready to make a purchase but are having a hard time finding the right home for them. There’s a good chance yours could be the one.
Buyers are getting rock-bottom interest rates
Unless you never turn on the news or read the newspaper, you’re aware that interest rates have hit historic lows. During the summer, interest rates fell below three percent, and they are expected to drop even lower by the end of the year. Homebuyers have an unprecedented opportunity to lock in an amazing rate on a house and it has caused them to flock to the market. In fact, demand is outpacing supply on such a level that we’re definitely in a seller’s market. If you list now, then it would not be surprising for you to receive multiple offers on your home.
Home prices are going up
With demand so high, home prices have continued to either hold steady or go up, depending on the market. Selling when prices are on an upward trend helps to ensure that you’ll get a great return on your investment. And buyers are more able to pay those higher prices because they are offset by the low interest rates. If you were concerned you wouldn’t get a good price on your home because of the pandemic, then it’s time to lay those fears to rest.
Many homeowners are upsizing
Finally, we all now know how important our homes are. And since millions of Americans are working from home and attending school online, many of us need more space than we currently have. Homeowners who have equity in their homes have determined they can use that equity to help finance the purchase of a bigger home. Here in North County, we are uniquely suited to help fulfill the desires of today’s homebuyers. Being outside the city, homeowners have more space to spread out and can enjoy outdoor living all throughout the year.
Contact the Clark & Gilman Team
Are you ready to put your North County San Diego home on the market? Then contact the experts at the Cristine Clark & Jamie Gilman Team at 760-758-1211 or [email protected]. We’ve sold one home every 3.3 days since 1997, and we’d be delighted to help you sell yours!