2021 Still the Year To Sell In Connecticut?

Dated: August 27 2021

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Why 2021 Is Still the Year To Sell Your House

Why 2021 Is Still the Year To Sell Your House

Why 2021 Is Still the Year To Sell Your House | Keeping Current Matters

Why is sellers sentiment up year-over-year?

The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.

According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well below a balanced norm (shown in the graph below). Why 2021 Is Still the Year To Sell Your House | Keeping Current MattersClearly, the scales are tipped in a seller’s favor today. But while housing supply is undeniably low, the right side of the graph shows how the inventory situation is improving little by little each month as more sellers list their homes for sale.

As a seller, that means each month, buyers have more options to pick from. By extension, that means your house may get less buyer attention with time. Danielle Hale, Chief Economist for realtor.com, explains it like this:

More homeowners continue to list homes for sale compared to a year ago… Notably, while new listings continue to lag behind a more ‘normal’ 2019 pace, the gap is shrinking. Even though homes continue to sell quickly thanks to high demand and limited supply, new listings are subtly shifting the balance of market conditions in favor of buyers.” 

So, what’s that mean for you?

If you’ve been waiting for the perfect time to sell, there may not be a better chance than right now. Inventory is gradually increasing each month, so selling sooner rather than later will help you maximize your home’s potential.

Bottom Line

If you’re planning to sell your house, 2021 is still the year to do it. The unique mix of low supply and high demand won’t last forever. Contact a local real estate professional today to find out what you need to do now to take advantage of this sellers’ market.

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Aaron Bowman

As a RealtorĀ® licensed in Connecticut, Aaron and his team provide Strategic Marketing and Transaction Management services to their clients across many Connecticut markets. They operate on Dedication,....

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