We often think of real estate sales peaking in spring and summer; however, due to current real estate and mortgage trends sellers might reconsider when to list their house to maximize their time and money.
Mortgage Rates on the Move
While mortgage rates have been at record lows since the housing market crash, that’s beginning to change, as rates are steadily increasing with no plans to stop. According to CBS Money Watch: “As a buyer or seller, this essentially points to acting sooner rather than later if you're intending to do a transaction next year…”
Stay on top of these market changes by reaching out to a lender. If you don’t have a lender, The Bell Team works with a number of trusted lenders we can refer you to. Plus, being pre-approved is key in the home purchasing process to act quickly in today’s fast-paced market.
Low Inventory, High Buyer Demand
Buyers aren’t backing off purchasing this winter season considering mortgage rate increases; yet, the market is proving to be hitting inventory lows, not just in reflection of the past year but across past winter seasons as well. Average and median days on market are remaining low. In December 2016 across Georgia, the average days on market was 58 while the median was 34.
Braselton Active Listings History
Flowery Branch Active Listings History
Gainesville Active Listings History
Turning Around to Buy
Because most sellers are also likely to buy another home after the successful sale of their property, it’s key to consider your entire timeline. Later listings mean later purchases, which could lead to a changed market landscape and higher mortgage rates. Take time to research scenarios with a mortgage calculator based on potential mortgage rates and what that means to your monthly budget.
If you are ready to start a FREE home evaluation, call us at 678-283-9834 or click here to begin with our easy, online form. There's no obligation!
Images and statistics retrieved from FMLS January 28, 2017 at 5:47 p.m.