You may be surprised to hear how often we are asked “is now a good time to sell my house in Leander?” While this question is always popular, recent challenges in the markets have lent this question more urgency. From rising interest rates to growing fears of a recession, the market has been volatile at best in 2023.
Here, we take a look at the current state of the market in Leander and give you some real options as well as tips on how to snag the perfect home sale.
The Leander Market
In 2023, Leander is a seller’s market but trending towards a neutral market. This means that the general conditions for now favor the home seller over the home buyer. For instance, demand for homes is high, while supply remains low. Prices tend to be higher and homes sell faster than in a buyer’s market.
In April 2023, the median sale price of a home was $446,240, down significantly from the market peak in July 2022. Additionally, the number of homes sold decreased 17.7% and stayed on the market 25 days longer. This is the trend towards a neutral market mentioned earlier – slowly, the market is realigning at neutral. Whether it stays at neutral or will continue its trend towards a buyer’s market remains to be seen.
Should You Sell Now or Wait?
Continuing to look at whether it’s a good time to sell my house in Leander, the decision will be based on your personal circumstances.
In some situations, you have little control over when you enter the market. For instance, maybe a divorce or change in employment is forcing your hand and causing you to enter the real estate market sooner than you had planned. If you have to sell immediately, an expert realtor can help you have a successful and efficient sale.
On the other hand, if you have some flexibility, it’s worth weighing all your options. First, consider the state of the economy. The Federal Reserve continued to raise interest rates in early 2023, and inflation was still high. And some economists think a recession may be likely later in the year.
Of course, it’s impossible to completely predict what direction the economy could head in. But if it’s reasonable to assume a recession is in the future, selling sooner could be better. That way, you avoid selling in a recession, when there’s likely to be even fewer home buyers in the market.
But if you sell now, you’ll also have to consider whether you’ll be looking to buy another home. If that’s the case, you’ll face expensive mortgage rates. And depending on the housing market you move to, there may be more competition from other buyers.
Ultimately, it’s important to consult with a real estate professional to help you decide the right time to sell. It’s also a good idea to reach out to a realtor in the area you plan to buy your next home.
What Can You Do to Achieve a Successful Sale?
If you want to ensure your home sells fast in a down market, it’s imperative to invest in it to make sure it’s move-in ready.
When the market is tough, home buyers are actually more willing to pay a higher price for a home in good condition. That way, they won’t have to worry about having to pay for potential repairs or an appliance breaking down right after purchasing the home.
To start preparing your property for sale, invest in professional:
- Cleaning services to deep clean and sanitize your entire home
- Landscaping services to boost your curb appeal
- General contractors to fix urgent repairs, add new paint, and repair big-ticket items like the roof
- Home stager to maximize your home’s best features, layout, and natural lighting
In addition, it will be crucial to work with an experienced realtor who can come up with a pricing strategy for your home. In a market experiencing high interest rates, home sellers typically have to lower their asking prices to compensate for the increased mortgage expense for buyers.
But when there’s a buyer’s market at the same time, many home sellers may be tempted to lower their asking prices even further in order to appeal to home buyers.
When there’s a small group of buyers that have their pick of a large inventory– including new construction– lowering your price can seem like a good way to compete. However, you also risk losing thousands in profits.
A realtor can help you walk the line and get the best possible price for your home.
Work With Our Team to Sell a Home in Leander
If you need to sell a home in Leander, contact Your Home Sold Guaranteed Realty - The Salas Team today. Our team has years of experience serving home sellers in the community, and we can help you answer the question, “Is now a good time to sell my house in Leander.”
We’ve become known as the best realtor in the area because of our exceptional selling speed. In fact, we sell homes 2.8 times faster and for 3.1% more money than our competitors.
On top of that, our clients love working with us because of our unique seller guarantees, such as our Guaranteed Sale Program.
With this program, you can ensure your home sells within your desired time frame, no matter what. If it doesn’t sell to a home buyer, our real estate team will buy it ourselves for an agreed-upon price.
To learn more about our other guarantees or what it’s like working with our team, call 855-331-7653. You can also fill out the form below for more information.