I would like to welcome you to my comprehensive Alaska real estate website. You'll find information on buying and selling in Anchorage, Wasilla, Eagle River, Palmer, Girdwood, and Chugiak.

What does it Mean to be in A "Seller's Market"?

Dated: April 1 2021

Views: 97

What It Means To Be in a Sellers’ Market

What It Means To Be in a Sellers’ Market | MyKCM

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):What It Means To Be in a Sellers’ Market | MyKCMWhen the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.

As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.

Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.

Bottom Line

Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.

 
ANCHORAGE HOMES FOR SALE
SEARCH ALL HOMES FOR SALE
GET PREQUALIFIED
WHAT IS YOUR HOME WORTH?
HOW MUCH HOME CAN YOU AFFORD
FREE GUIDE TO BUYING A HOME
FREE GUIDE TO SELLING YOUR HOME
VISIT MY BLOG
 
 
Yvette Belisle
eXp Realty LLC
Associate Broker/REALTOR®
907-868-2811
Office:
907-519-0095x108
Licensed In: Alaska
License #: 17864
Contact Me

You Can Also Visit Us At:  Facebook Twitter LinkedIn Youtube Instagram
 

Blog author image

Yvette Belisle

I am a lifelong resident of Alaska and have lived in the Anchorage area for over 26+ years. I grew up in the Anchorage bowl and have knowledge of many parts of the city which have added in aiding my c....

Latest Blog Posts

How Could Your House Be an Oasis for Buyers Seeking More Options?

Sellers: Your House Could Be an Oasis for Buyers Seeking More OptionsSellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale.

Read More

What Does Past Years Tell Us About Today’s Real Estate Market?

What Do Past Years Tell Us About Today’s Real Estate Market?As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market.

Read More

Should You Renovate or Move? That's the Big Question

The Big Question: Should You Renovate or Move?The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA

Read More

How Does Homeownership Provides a Path to Long-Term Wealth?

Experts Agree: Homeownership Provides a Path to Long-Term WealthA recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead

Read More