The housing market has been on fire since the COVID-19 pandemic began in 2020. Buyers were fleeing dense urban areas and looking for more spacious accommodations, and homeowners used this as an opportunity to gain record-setting profits when selling their homes. Now, everyone is asking the question; will the market continue to be this hot in 2022?
There are several factors to consider when deciding the right time to sell your home. Presently, we’re in a historical time with low interest rates, lifestyle changes causing people to move, and buyers wanting more square footage and amenities than before. With this in mind, let’s examine why right now is the time to sell your Jupiter real estate.
Supply is limited
Basic business practices tell us supply and demand drive prices. In the housing market, there has been depleted inventory for nearly two years. Low interest rates, higher investor activity, the desire for second homes, and migration from urban areas have all affected the current state of the inventory. Additionally, supply chain issues creating a lack of available supplies and labor to build new construction further complicates the situation.
While there’s expected to be some relief in inventory in 2022 as more homes are constructed and others become available on the market, there will continue to be a remarkably high demand for residential properties. Simply put, it's still an opportune time for sellers to take advantage of the current demand. Jupiter houses for sale continue to be limited, thus driving prices higher. Selling now will allow you to maximize your sale price.
While there’s expected to be some relief in inventory in 2022 as more homes are constructed and others become available on the market, there will continue to be a remarkably high demand for residential properties. Simply put, it's still an opportune time for sellers to take advantage of the current demand. Jupiter houses for sale continue to be limited, thus driving prices higher. Selling now will allow you to maximize your sale price.
Buyer demand is high
Buyers are frantically looking for their perfect home and this demand is a major reason to consider selling your Jupiter real estate today. Entry-level homes are highly sought after as many first-time homebuyers are taking advantage of lower interest rates. Additionally, the decreased inventory in the luxury home market and an increase in wealth makes high-end properties coveted as well.
The growth of the market is cooling slightly with home prices rising just slightly compared to the dramatic increases we witnessed in 2021. It’s critical you find the right agent who’ll assist you in getting the most value out of your home. Your agent will have their pulse on the local market and know how much is too much to ask with the expected leveling of housing prices.
The growth of the market is cooling slightly with home prices rising just slightly compared to the dramatic increases we witnessed in 2021. It’s critical you find the right agent who’ll assist you in getting the most value out of your home. Your agent will have their pulse on the local market and know how much is too much to ask with the expected leveling of housing prices.
Serious buyers with cash
It is frustrating when you think you’ve sold your home and a buyer is suddenly unable to get financed. The real estate climate today is mitigating this risk with cash offers and multiple backup offers available. The post-pandemic stock market and real estate gains allowed buyers to be flush with profits, making it easier to bid on homes with cash offers. Knowing the deal cannot fall through due to financing because you can attract qualified buyers is a particularly good reason to list now. Cash deals are not often an option when selling your home, and it would be wise to benefit from this favorable circumstance.
Interest rates are still low
Mortgage interest rates are still at the lowest in decades. According to Nerd Wallet, the average 30-year fixed mortgage rate is 3.391% as of January 7. In December of 2021, the Federal Reserve decided to keep the rates low but hinted at adjusting the rates later this year. While these rates have been low for quite awhile, there have been recent spikes that indicate a change could be on the horizon. Interest rates are subject to change at any time, so make sure to keep an eye out for current trends!
There are many unknowns about how much or when the interest rates will change and how this will impact the mortgages. With the current low rates, both first-time home buyers and investors are actively searching for the perfect Jupiter real estate investment. Waiting to sell your home may result in a missed opportunity for profits if the interest rates rise over the next few months. A missed opportunity could cause you to leave thousands of dollars on the table.
There are many unknowns about how much or when the interest rates will change and how this will impact the mortgages. With the current low rates, both first-time home buyers and investors are actively searching for the perfect Jupiter real estate investment. Waiting to sell your home may result in a missed opportunity for profits if the interest rates rise over the next few months. A missed opportunity could cause you to leave thousands of dollars on the table.
Prices are still rising
Experts are predicting the real estate market will likely cool down a bit the further we go into 2022. Nevertheless, prices in many markets are expected to continue rising, albeit at a slower rate than we saw in 2021. The ongoing high demand for homes including Jupiter houses for sale along with the lower interest rates could lead to multiple offers on your property if you market your listing correctly. This could lead to a bidding war, potentially adding a sizable percentage to your final sale price.
You need to move
Perhaps the thought of a lifestyle change has you thinking about relocating to an area you’ve always dreamed of, or maybe you just want more living space for your family. As remote work is now an option for many, a world of possibilities has opened up in terms of choosing where to live.
The window to take full advantage of these opportunities won’t be open indefinitely, and it would behoove you to list your home now. The real estate climate today would likely allow you to sell your current home at or above listing price with minimal days on the market, further increasing the options you have for your next residence. If you need to move quickly, a Compass bridge loan could assist you in obtaining a financial advance that allows you to use the equity in your existing home to buy a new one.
The window to take full advantage of these opportunities won’t be open indefinitely, and it would behoove you to list your home now. The real estate climate today would likely allow you to sell your current home at or above listing price with minimal days on the market, further increasing the options you have for your next residence. If you need to move quickly, a Compass bridge loan could assist you in obtaining a financial advance that allows you to use the equity in your existing home to buy a new one.
Faster closing
Depending on your location, winter is a great time to sell your home for a number of reasons. Many buyers postpone looking for their perfect home until after the first thaw of Spring, so selling your home in February could mean there’s less activity. Attorneys, closing agents, and home inspectors may all have more time available to complete the necessary work, leading to a faster closing. As an added bonus, if you live in a cold winter climate, you won’t have to worry about maintaining your lawn to impress sellers when holding showings at your property.
Take advantage of high demand and low interest rates and start the process of putting your home on the market. A qualified agent will guide you through every step of the way – providing the necessary knowledge and resources to increase curb appeal, stage your furniture, and market the property effectively.
If you’re ready to take the next steps, please don’t hesitate to reach out to trusted Jupiter real estate agent Stacie Ahee for expert guidance.
Take advantage of high demand and low interest rates and start the process of putting your home on the market. A qualified agent will guide you through every step of the way – providing the necessary knowledge and resources to increase curb appeal, stage your furniture, and market the property effectively.
If you’re ready to take the next steps, please don’t hesitate to reach out to trusted Jupiter real estate agent Stacie Ahee for expert guidance.