What does low inventory mean to a Seller?
You may have heard lately that Huntington Beach, CA is experiencing “low inventory” in the housing market. But if you are thinking of buying or selling a home, you are probably wondering exactly how does it impact you?
Sellers have more power in this market because they do not have as much competition. If you are selling your home right now, you can expect a shorter time on market, lots of interest and showings right away, fewer requests from the buyers for repairs and possibly even multiple offers.
But what about pricing your home? The key to getting the best price for your home, right now, is making sure you price it AT MARKET VALUE – and resisting the temptation to price above the market, even though demand is high. In an appreciating market, if you price your home based on past sales, not the current competition (although it is important to monitor your competition) you have a higher chance of receiving multiple offers on your property. When there is high demand for your home, you are in the drivers seat as far as negotiations and making terms work in your favor.
Thinking of selling your Orange County home? Every situation is different and there are many options available, to you as a Seller. Contact me for a free, no obligation, confidential consultation.