Here are five things that sellers should know before listing their house.
It’s a great time to take advantage of this hot seller’s market and cash in on your home’s equity. However, research is showing a few things that sellers need to be aware of:
1. Anticipate dealing with multiple offers. In 2020, the average number of offers on a home was 3.4. That number is now 5. You’ll need to figure out which of those offers is the best for you and your family.
2. Homes are selling in only 17 days. At this time last year, homes were selling in 27 days. You need to be prepared to move quickly or have other arrangements made.
3. 42% of homes are selling above asking price. Homes in the Chattanooga market sold for 100.7% of the asking price on average.
4. 22% of homeowners have to reduce their price before getting an offer. It’s really important not to overprice your home because all of these statistics mean nothing if you’re priced out of the market.
5. What are buyers looking for? They’re looking for outdoor spaces, home offices, and home gyms.
It’s important to hire an agent who can guide you through handling all of these issues and more. If you’re ready to sell or if you have any questions, feel free to give me a call at 423-774-2965. I would be delighted to help you in any way I can.