If you’re someone who has been considering selling your house, this year may be the best year yet to move that asset. With the housing market currently at an unbelievable intersection of high demand and low supply, the current market presents an almost unrivaled opportunity for potential sellers. Never before has it been a more advantageous time to list your house.
Low Supply, High Demand
In a 2021 report by the Greater Regional Alliance of Realtors, there has been a drought of listings in the last decade as compared to the decade prior. From 2007 to 2011, the average number of current listings in the mid-Michigan area dropped from 10,924 to 5,204. Since that four year plummet, the number of new listings have steadily declined each year to their 2021 number of 1,141. This decline leaves the market with record low inventory in over twenty years.
Despite the declining supply, sales climbed back up after the 2008 crash before plateauing around 2017. This plateau during its climb is largely in part to the dwindling supply of available homes along the same timeline showing that home sale figures are likely being throttled by the lack of supply. With home sales still reaching a fifteen year record high despite the small supply, all signs point to a rare market paradigm ripe for sellers to make the most of.
Listing Your Home In A Sellers Market
It’s no secret that being a seller in this market is full of advantages. With inventory of homes hitting a record low amidst high demand, sellers will see advantages such as higher appreciation leading to higher home values as well as more bargaining power for the seller. If you’re someone that has considered selling, now may be a better time than ever to make steps towards that action.
If you’re looking to avoid the headache that can accompany listing your home yourself, it’s important to make sure you have the right agent in your corner to get your home sold for the price that you want. Marketing, the right upgrades to make, negotiating with buyers, are just a few of the processes that the right agent can help you with.
Thankfully, the Lucas Howard Group is made up of West Michigan’s best realtors and with our Home Sold Guarantee, you won’t ever have to worry if your home will sell. On top of that, we net our clients 2.8% more than the average agent. That means even more money in your pocket.
Give us a call today to see how we can help you determine the value of your home and get it sold!
616.893.6478