If your plan to sell in the Bay Area was put on hold, you might be thinking if now’s a good time to sell.
While buying and selling a home is as much about personal timing as it is the market, now might be the best time to sell in the Bay Area; here’s why:
Low Inventory
Before the pandemic struck the Bay Area in early 2020, inventory was already low. Combine low inventory levels with sellers holding off on putting their homes on the market, and inventory is lower than ever. Low inventory is always great for sellers, as it usually means properties that enter the market will be under contract fast.
Strong Buyer Demand
Due to the low inventory, housing demand is now very high. As the lockdown orders helped to push high demand among buyers, the return to normalcy could fuel property sales in certain parts of the Bay Area. The progressive demographics that were fueling the San Francisco housing market pre-pandemic will remain in place post-pandemic, which should continue to drive strong home sales across the Bay Area.
Low Mortgage
In the midst of the pandemic, Real Estate has emerged as one of the few resilient sectors of the economy not only in San Francisco but across the United States. As mortgage rates are favorable, more and more buyers will be entering the market further increasing buyer demand.
Increased Price Appreciation
The high demand has led to increased price appreciation and higher prices. With the current Real Estate market, sellers who have maintained their homes can expect to earn top dollar. Increased price appreciation is greater than ever.
According to the latest numbers, now’s a great time to be a seller in the Bay Area market. We pride ourselves in being able to help distressed homeowners sell their homes quickly and keep their equity.