You’ve probably heard the phrase before, “the early bird gets the worm.” Or maybe, “Early to bed and early to rise makes a man healthy, wealthy, and wise.” No, this isn’t a post about why you need to wake up earlier. That’s outside the focus of this blog.
However, over the past couple of weeks I’ve had several conversations with people wanting to wait until summer to list their house. I wanted to share a couple thoughts on why it may be in your best interest to list now, even though we’re still early in what many consider to be the traditional selling period.
1. There’s low inventory.
At the time I’m writing this, there are only 74 active homes on the market in Clinton. That’s historically low. In 39042 Brandon, there are only 161 homes, 231 in 39047 Brandon, and 65 in Pearl. I won’t go through every city, but the point is that when supply is low and demand is high you can typically get more for your house than when waiting for everyone else to list. How about that demand though?
2. The spring demand appears to already be present
Many buyers have been waiting for months already to find a home on the market. I have at least 5 buyers that are just waiting on homes to hit the market. I email them as soon as a home hits and, if they like it, we see it within 24 hours. Using Clinton as an example, of the 30 homes that are contingent right now, 10 of them went under contract in less than 30 days; 20 of them in approximately 60 days or less. Just this month, I listed a home and within the first 24 hours had 7 showings and 2 offers. We agreed to a full-price contract. The spring demand is already here in many segments of the market.
3. There’s early movement for lower price points
The demand is particularly high already for homes under $200,000. That’s because many first-time home buyers use their tax refund to help purchase a house. Many of them also don’t have to wait on kids to finish school before moving. If you’re considering upgrading, now is a really good time.
4. Interest rates are potentially rising later this year
While interest rates are still historically low, there’s a lot of talk about rates rising later this year. Many buyers are trying to get ahead of the curve, and purchase now while rates are still historically low.
If you’re considering listing at some point this year, I’d love to show you how we’re selling more homes in less time and for more money than the average agent. Call me today at 601-201-0038 to set up a free consultation.