Is this the Right Time to Sell?

Should I sell now?

Selling a house is a huge decision and there are several questions that need to be answered to determine if the time is right.

The initial questions include an inventory of circumstances.

• Has the number of people living in the house changed?
• Has your work commute changed?
• What new or different circumstances need to be accommodated in your living arrangement?
• How is your current house meeting your current needs?
• How are you managing the property taxes?

Answers to these and other questions inform your next steps.

Next, consideration must to be given to the market.  What are the market conditions right now in your area?  In Orange County, New York, market conditions for sellers are very favorable.

• In April of 2022 there were 471 single family houses on the market.
• In April 2023 there were 325 single family houses on the market.
• That’s a 31% decrease in available family homes. 

There are more buyers than there are houses for sale.   When priced right, houses that are available go quickly and often sell for over the asking price.  These market conditions make now an ideal time to sell.  While the exact statistics will be different in other locations, there is a seller’s market in many parts of the U.S.

Finally, selling now, could provide financial opportunities for the seller.

• If the property has appreciated in value, the seller could capitalize on the equity and use the proceeds to buy a better house.
• The proceeds from a sale could be used to make an investment, buy a multi-family property that works to pay for itself, or perhaps start a business.
• Another option includes using the extra cash to pay down debt.

Do any of these options put you in a better financial position?

How are your responses lining up?   Is this the right time for you to sell your house?  For a more in depth response and a thorough look at your unique circumstances, call or text me.   I’ll answer your questions, provide information on the current value of your home, and help you make informed decisions for your next steps.