Key Points:
- The real estate market is warming up alongside the spring season, with median home prices hitting $375,000 in April. It’s a great month for home sellers as they can make a nice buck with barely any sweat!
- Buckle up, buyers! Multiple bids and feisty competition are on the rise. Over 50% of homes sold in April received multiple offers. The metaphorical “out of stock” sign might pop up more frequently than you’d hope.
- Speaking of fast, don’t blink or you might just miss it. Homes are spending the smallest number of days on the market in April. Yours truly took longer deciding what to order for breakfast than most buyers took to make a home purchase offer.
- Springtime isn’t just seeing more flowers bloom; buyer demand is thriving too. While the number of newly listed homes increased 32.6% nationally compared to this time last year, the demand has not slowed down. Can’t blame anyone, can we? We all yearn for the spicy thrill of a bidding war.
- Finally, lower competition? How’s that for a plot twist? While it’s true that buyer demand is strong, the competition isn’t as fierce when it comes to home sellers. Apparently, not everyone has the guts to play the real estate version of ‘Survivor’.
Hot Take:
Here’s the real estate story for you folks: Just when we thought real estate could use a chill pill, up pop these springtime shenanigans! Sellers, it’s your time to shine and make some serious dough. Buyers, it’s sort of like being the last one at a Black Friday sale – you need to put in a bit of elbow work. But hey, every struggle is worth it when you finally get your hands on that versatile living room couch, right? Or in this case, your dream home!
Watching the market pace is like indulging in a thrilling sports match. Homes are disappearing faster than my social life in 2020. And the buyer demand – it’s like a hardcore fan club. As for the dwindling competition among sellers, it seems not everyone has the courage to step into the frenzied arena. To those who have, may the real estate Force be with you!
So what’s my two cents? Well, writing about this real estate hullabaloo reminds me of that quip from comedian George Carlin: “Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body.” Don’t get lost in the chaos, folks. Find a home that suits your needs, but don’t forget the real joy – turning your house into a home.
Original article: https://www.inman.com/2024/02/26/3-key-steps-to-prepare-for-the-peak-selling-season/
