Now is a good time to sell your house according to a new survey by Redfin, a Seattle based online brokerage. Of the nearly 2,000 home owners surveyed this month, 45 percent said that now is a good time to sell a home. That is double the number of home owners who said it was a good time to sell in January 2013.
Fear of missing future price gains seems to be one factor in holding back more people from feeling like now is a good time to sell. Just over 32 percent of those surveyed told Redfin the thought of missing additional appreciation was holding them back.
On the other side of the coin, home buyers’ enthusiasm is sagging just a bit. Steadily rising home prices reduced the percentage of respondents who feel now is a good time to buy from 54 percent in January to 44 percent in April.
“More folks who bought before the bubble burst are now above water and listing their homes,” says Chad Dierickx, a real estate practitioner with Redfin. “When sellers see their neighbors’ homes selling quickly and for prices they never would have imagined a couple of years ago, they can’t help but be optimistic about the market.”
If you know you want or need to sell your home but aren’t sure if now is the right time, there are a couple steps you can take to help you decide one way or the other. Our previous post about not waiting too long to sell your home should add some clarity to current real estate market conditions. After reading that post, if you are feeling a little more like now could be the right time to sell, email one of our real estate agents for a current market analysis of your home. We can tell you how much your home is worth today. Knowing how much your home is worth will help you figure out how much you can spend on your next home.