With 2020 having been one of the best times in recent years to sell, many real estate experts predict 2021 could be another banner year for sellers.
Here are the top 5 reasons you should sell your home in 2021!
When the coronavirus first swept through Alabama, most home buyers went dormant for a minute. Once the shift to virtual open houses and virtual closings were put into place, home buyers came out with a vengeance. Buyers are trying to make up for the time they lost looking for their dream home. With that, the demand for homes has spiked tremendously over the past few months, and with the largest buyer pool in Alabama, RealtySouth will deliver superior results when selling your home.
Working from home
Many companies have gone completely virtual, meaning employees who need to be close to the city for their daily commute can now move to suburbs further outside the city, getting more bang for their buck!
This also meant a change in homebuyer needs. With many people using their dining room table as their office, there has been an uptick with buyers looking for a home office. Having a professional background space has become increasingly important to the buyer pool. Those same buyers are looking for a great outdoor area and extra living space for a little more peace-of-mind in their working-home.
RealtySouth is also accommodating for those going virtual amidst these uncertain times by offering 100% remote closing, meaning neither the buyer nor seller are required to be on location to close on the property. This is especially helpful in keeping both parties safe during the pandemic, as well as those moving across state lines.
Home inventory down
Even though people are getting more comfortable listing their homes for sale, there is still a decrease in the number of homes available. With demand for homes up and inventory down, the conditions are perfect for home sellers. Because of this, you may find yourself with multiple offers on your home. The average time on the market has dropped statewide. In many areas of Alabama, the average time on the market has fallen by over 50%! Check out our 2020 Q4 Market Snapshots for a quick look at recent market conditions in your area.
Mortgage rates are at an all-time low!
Another factor pushing home buyers to shop for their dream home is the historically low mortgage interest rates. The fact that homebuyers could potentially save big bucks in interest over a number of years is making purchasing a home very tempting, again increasing the demand for home buyers! Loan officers at Prosperity Home Mortgage are busier than ever and work diligently to help buyers secure the purchase of a home for sale. If you are looking to purchase a home with record-low interest rates, the time is now!
Home values have been on the rise
What’s your home worth? Home value has been on the rise for quite a while now.
“The average sale price (ASP) has grown and is actually higher now than it was before the pandemic,” shares Richard Grimes, President & CEO, RealtySouth.
In fact, the selling price has been sitting at around 13%-25% higher. With the values increasing, it is the perfect time to put your home on the market if you are worried about the upcoming months and want to sell for a guaranteed higher price. Our expertly trained RealtySouth agents will ensure you get the most for your home.
So, is now a good time for you to sell your home? In the 2021 market, selling could be not only beneficial but also very successful. Whether it’s weighing the pros and cons or discussing pricing, RealtySouth can find the best direction for you to take with your selling journey. With 21 locations across the state of Alabama and hundreds of agents eager to help, RealtySouth is here and happy to help with all your selling needs. Start a conversation with your local RealtySouth expert today to explore all of your options!