Why Sell Your Manahawkin Now Instead of Later? The Buyers are Out Now!
Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released data suggests that a seller’s best deal may be available right now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market.
It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) revealed that there is currently only a 4.2-month supply.
In Manahawkin, the absorption rate is at an astoundingly low rate! For October 2017, it was down an unbelievable 65.65% from October 2016. (The absorption rate is how long it would take current inventory to sell at the current frequency and anything less than 6 months is considered a “seller’s market.”) The Manahawkin rate is at an incredible 1.92 months! If there was EVER a sign to put your Stafford Twp home one the market, that’s it!!
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We can’t say this enough: Supply is currently very low!!
A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers out looking at homes) disclosed that there are more buyers right now than at any other time in the last twelve months. This includes more buyers looking at homes right now than at any time during last year’s spring market.
In Manahawkin, the median sale price is up over 35% percent over last year at this time! Also, there are signs that more new construction is coming in Stafford Twp in the Spring - you may want to think about beating that competition to the market place. Need we say more?
Demand is currently very high!!
Waiting until the spring to list your Manahawkin house for sale made sense in the past. This year is different. The best deal is probably available right now.
As always, thank you for your time and feel free to get in touch if you have any questions about buying, selling or investing in real estate in Manahawkin. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County
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