Is it time to sell? Here’s a simple test.

Everyone talks about sales. Are homes selling? How quickly are they selling? How much are they selling for? Unless you really do your homework it can be difficult to get an accurate picture of just how long a certain home spent on the market and even more difficult to find out the difference between the asking price everyone knows about and the sale price that only the buyer, seller and agent know about.

Forget what has sold for a second and consider what hasn’t.

1. How many homes like yours (similar block size, similar construction, same amount of bedrooms and bathrooms) are on the market in your local area? Are there a heap or a handful? If you were a buyer looking for a home like yours, would you have lots of choice or would your options be limited?

2. How long have the homes like yours been on the market? Are they getting snapped up or are you seeing them open for viewing week after week?

It’s simple. If buyers have lots of homes to choose from there’s less competition and there’s less motivation to pay high prices. If buyers have little choice and have to compete with each other for the same homes, they need to pay higher prices.

Prices may not be as high has they have been at some points in the past few years but the current market conditions are the best that most agents can remember. In most areas and for most property types, listing numbers are extremely low. The amount of time homes are spending on the market is around 45 days, almost half the time it took to sell a homes 6-12 months ago.

What sort of competition would your home have if it was on the market right now? That’s the only question you need to answer to figure out if now is a good time to sell.

If you’d like to have an obligation free chat about how your homes fits into the current market, feel free to get in touch, 7 days.

Wayne Heldt

0433 118 353

wayne@bellcourtproperty.com.au

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