August 22, 2017
People ask this question all the time. “When is the truly BEST time to put my house on the market?” Depending on market conditions, there may be other answers, but at this time, in this real estate market the answer is short and sweet:
All of the recent major reports from the National Association of Realtors contain data strongly suggesting that right now is a great time to put a house up for sale.
Demand is high, inventory is tight, mortgage interest rates are low and prices have risen steadily since last year, which is equity in the bank for most would-be sellers.
The two most pressing desires of a home seller seldom change:
- Quick sale time
- High sale price
And right now, those desires are being realized in unprecedented numbers, mainly because of the flood of buyers in the local marketplace. Typical market times are under 30 days for over 55% of properties that are being offered for sale. Of particular interest to the majority of buyers who happen to be first timers are what we usually classify as “starter homes”. Potential sellers with this type of home, who is usually in the market for the larger move up home are seeing the shortest market times.
With supply levels at less than the optimal 6 months for such a long amount of time, those who have been waiting for a seller’s market should find this the perfect storm for achieving their selling and buying goals.
Montclair remains one of the most sought after areas of New Jersey and are enjoying excellent appreciation value. There are plenty of starter style homes, and the area offers many beneficial amenities that attract buyers. For specific data on any of Montclair desirable neighborhoods, contact your local market specialist to make your best move now.