The Benefits of Selling Now, According to Experts
If you’re trying to decide if now’s the time to sell your Ocean County house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.
Here are the estimated value changes of 3 bedroom/2 bath homes over the last 3 years:
- Manahawkin – Up 63.56%
- Barnegat – Up 60.83%
- Waretown – Up 49.02%
- Forked River – Up 52.74%
- Lanoka Harbor – Up 54.28%
- Bayville – Up 56.16%
- Toms River – Up 46.54%
- Brick Twp – Up 45.62%
- Point Pleasant Boro – Up 49.08%
- Point Pleasant Beach – Up 58.25%
As you look at those values, you can see that home equity has reached some of the highest levels ever. In the simplest terms, your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.
This is what industry experts are saying about why selling now has its benefits:
“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.” - Selma Hepp, Chief Economist at CoreLogic:
“We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to heighten market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely.” - Clare Trapasso, Executive News Editor at Realtor.com:
“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .” - Jeff Tucker, Senior Economist at Zillow:
You might ask yourself: If I sell, where would I move? Here are some suggestions.
If you’re thinking about selling your house, let’s talk so you have the expert insights you need to make the best possible decision.
Karl Hess provides expert real estate services to residential buyers and sellers in Ocean County. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.