If you have been watching the local Incline Village, NV real estate market the past few years you probably know sellers have had it pretty good. Inventory has been down, demand has been high and prices have gone up. Across the nation, however, the housing market is starting to cool. Which many economists and experts say is a good thing for multiple reasons. While it is still considered a seller’s market in many parts of the country, if you are hoping to list your real estate in Incline Village, NV for sale, soon is a good time to do it. Below are a few reasons why.
- More inventory is expected to come on the market later
The main reason sellers have had such great success the past few years is because the amount of homes for sale in Incline Village, NV has been low. When there is a demand for Incline Village, NV homes for sale and not that many to choose from, sellers reap the benefits by having a quick sale and sometimes for more money than list. With the tides expected to turn later on this year, you will likely have more competition. Luxury markets are leaning towards a buyer’s market which means that faster sales and bidding wars could become a thing of the past. With market conditions changing often, your Incline Village, NV realtor will be the best person to advise on what is happening currently.
- You still stand to make a good profit now
Rising home prices have been making headlines for some time. In fact, the median home value has nearly doubled since 2012. This means if you were hoping to make some extra money at the time of resale, now is a good time to do so. According to realtor.com, January saw 15% of home listings reduce their prices. While this doesn’t mean homes for sale in Incline Village, NV are going down in price, it just means that prices aren’t increasing at a pace we can’t keep up with. Once again, working with an Incline Village, NV realtor is truly important as we can let you know what the current home values are.
3.) Mortgage rates are low
While experts predicted that rates would rise at the end of 2018 and continue upwards through 2019, something strange has been happening. The end of 2018 did see rates go upwards, but since 2019 began, rates have been falling as low as 4.37%. Historically low mortgage rates usually mean more buyers who have more buying power thanks to a lower rate. This results in buyers also being able to move on up too. As rates can change up or down at any time and there is no real way to pin point for sure, taking advantage of selling when buyers are out in droves is a smart move.
According the experts, sellers who list their Incline Village, NV real estate earlier in the year usually experience shorter days on market and usually see a higher sale. If you would like to list and beat the spring rush of real estate, feel free to give us a call. As established, local and experienced Incline Village, NV Realtors, we would be happy to help.