2021 is the year of the seller when it comes to the housing market. If you own property and you are thinking of selling, now is the perfect time to do so. There is so much opportunity for homeowners that are looking to make a move. The inventory is low and the mortgage rates are even lower.
According to NEREN, we have about a 1.5 month supply of listings currently in the State of New Hampshire. High buyer interest is creating a major imbalance between supply and demand. There has been a small uptick the last few weeks in housing inventory, due to sellers beginning to reenter the market. If you decide to put your home on the market, now is the time because you will get more activity on your house before more listings come available to the market later this summer.
Buyer are facing tough competition which allows them to be flexible and generous in their negotiations. According to the National Association of Realtors, “the average number of bids received on the most recently closed sales is 4.8 offers.” This is a result of the bidding wars that buyers are entering while searching for a home to purchase. This in turn gives a seller the opportunity to choose the best buyer to suit their needs, such as contingencies, closing date, price, etc.
As for days on the market, homeowners aren’t waiting very long to find a buyer for their home. According to the National Association of Realtors, “Properties typically remained on the market for 18 days in march, down from 20 days in February and from 29 days in March 2020. 83% of homes sold in March 2021 were on the market for less than a month.” Had there been more inventory in those months, the sales would’ve been much higher.
The bottom line is, if you’re thinking about moving, it’s a great time to take that next step. Our team would love to help guide you in the right direction to selling your home.