Here are a few things to know about the real estate market as we head into spring. It should be a great season.
Each year, spring is the hottest season for real estate. However, spring 2018 looks to be an especially important time for anyone looking to sell a home in Central Illinois. Because of the number of families that we serve here at Ryan Dallas Real Estate, we’re in a unique position to gather powerful insights on the current and upcoming market conditions. Here are a few things we’re watching for that could impact you:
1. The number of homes available versus the increase in demand. This is driven largely by a great job outlook and the growing number of millennial homebuyers entering the marketplace.
2. Increasing home prices.
3. The rise in mortgage rates.
What does this mean for you as a seller?
First off, right now is a very good time to sell. If you were to put your home on the market right now, you could get top dollar quickly without much hassle at all.
Second, it’s not clear how long this favorable situation will last. As I mentioned, mortgage rates are on the rise. Currently, that is not enough to dampen demand. But if rates continue to rise, it might drive more buyers out of the market, eventually driving down prices and making it more difficult to sell your home.
To sum up, if you have been considering selling your home, consider selling now. The current moment is very favorable, but it won’t last forever. If you have any questions for me about how to get started buying or selling a home, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.