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What the Increase in Listings Means for Selling Your House

Tuesday, April 30, 2024   /   by Bianca Romero

What the Increase in Listings Means for Selling Your House

The current state of the housing market is heavily influenced by the number of homes available for sale. If you're contemplating listing your house, the current scarcity of inventory provides a significant advantage. Your property becomes more prominent when there's a limited supply, particularly if it's appropriately priced.

However, the supply of homes for sale is on the rise. Recent data from Realtor.com indicates an upward trend in new listings, with more homeowners putting their properties on the market compared to the previous year. This surge in listing activity, as reported by Realtor.com, signifies a shift:

"More sellers entered the market this March, with newly listed homes showing a 15.5% increase over last year. This marks the fifth consecutive month of rising listing activity following a 17-month decline."

Implications for Sellers

If you've been postponing the sale of your house, it might be time to reconsider before your neighbors beat you to it. While a surplus of homes for sale isn't imminent, each new listing in your area poses a potential diversion of buyer attention from your property.

For instance, if your neighbor decides to list their house, you'll suddenly have competition right next door. The last thing you want is for buyers to visit your property only to fall in love with someone else's. Your aim is to ensure your house takes center stage.

A skilled real estate agent can facilitate this process. They'll assist you in preparing your house for listing, highlighting features that appeal to today's buyers, and ensuring it's priced competitively. This approach ensures that your listing captivates buyers and motivates them to envision it as their new home.

If you're prepared to sell now, seize the opportunity to benefit from both worlds. With the growing supply of homes for sale, you'll have more options for your next move. Yet, you can still capitalize on the current scenario where your house stands out amidst the increasing listings.

In Conclusion

Although inventory remains relatively low, waiting for more competition to emerge in your neighborhood isn't advisable. Let's connect to explore the advantages of selling before the market becomes more crowded with competing listings.