Sell your Greenville home this year!
If you are potential seller sitting on the fence. This year is the perfect time to make a move. 2017 is shaping up even better than the last two years. 2017 is a prime seller’s market not only in Greenville SC real estate but for many states in the country. Here are the 5 reasons why you should sell your Greenville home in 2017:
1. Mortgage rates are still low
Mortgage rates may have been increasing little by little but if you are going to look back, rates today are still considered low by historical standards. Experts forecast that mortgage rates may hit 4.5 percent by the end of this year. This could put pressure on buyers to act in order to take advantage of lower mortgage rates before another rate hike. This is beneficial for home sellers like you. At the same time, when you have sold your home and it’s your turn to buy another, you can still take advantage of low mortgage rates.
2. Buyer demand is strong
Not long ago, home buyers reigned in the housing market. Not this time. Buyer demand is back and going strong. With interest rates still at historic lows, this is an opportunity not many home buyers would want to miss. Especially now that rental prices are rising and it’s cheaper to buy a home than rent. The strong demand for real estate we are experiencing makes it a great reason to sell your Greenville home in 2017.
3. Inventory is low
In Greenville SC real estate market, new listings come every day, but the number of inventory were just not enough to meet buyer demand. There simply are not enough good listings to view. In February, there were 1,345 new listings that came on the market. There’s not enough inventory for buyers to choose from. Many local real estate markets across the U.S. are also experiencing low inventory.
4. Job markets are strengthening
Consumer confidence is rising up lately, thanks to decreasing unemployment and increasing wages. This growing confidence will encourage more potential buyers to jump into the market which is beneficial for home sellers. If people are more confident, it’s more likely that they’ll spend money on cars and other things as well. Thus, reinforcing the economy.
5. Home prices are rising
Low inventory and strong demand have pushed up home prices. In Greenville SC real estate, the median home price in February 2017 was $205,159 up 5.28% from February 2016, when it was $194,593, according to Greenville SC MLS. From the infographic, you can see that home prices have been increasing each year. Rising home prices is especially beneficial for home sellers whose property value plunged during the recession. They can now sell their homes without the fear of taking a big loss.
Looking for the right people to help you in the process of selling your Greenville home? Interview the J Michael Manley Team. We take a different approach when it comes to marketing and getting the best price for your home in the shortest time possible. We have helped a lot of people sell a home in Greenville and every successful transaction we had is a testament to our team’s dedication in helping home sellers not just get their homes listed but sold. Contact us today!