Should You Sell Your Livermore Valley Home This Summer?

soldThe question among homeowners across the country is whether they should sell now, while housing is showing clear indications of a recovery, or if they should wait, with the possibility that prices will rise even more. As your Livermore Valley real estate agent, I’d like to offer you some insight!

In the past couple of months, housing inventory has been very low in the Tri-Valley real estate market. This set up the perfect circumstances for prices to rise and homes to sell fast. Therefore, what we have right now is a market with conditions like this:

  • Home prices rose for the 14th straight month in April, and they posted their highest year-over-year increase in more than seven years, according to Inman News. Even within just one month, April prices moved 3.2 percent above what March prices were. They are rising and are predicted to continue to rise.
  • Home sales are increasing and happening at record speeds. Half of homes sold in April were on the market for 46 days, down from 62 in March and 83 a year ago, according to the Wall Street Journal. But with inventory low, many homes are flying off the market within a week or two!
  • More home sellers are finally joining the market, now that conditions are looking so good, according to Realtor Magazine. April was the first time in a while that there were more listings than there were homes under contract.

So, with all of that said, I’d like to point out a few factors that would make this summer the time to sell your Livermore Valley home:

  • There are lots of homebuyers right now. With mortgage rates increasing and prices rising, they’re in a hurry to buy. With low inventory, they’re willing to bid at higher prices and buy your home fast.
  • As more home sellers join the market, competition will get fierce. You will no longer have the upper edge as the seller in a pool of buyers, so even if prices do continue to rise, you might not get as much for your home if you don’t have multiple buyers interested.
  • If you’d like to buy another home after you sell, you should also want to buy now, before prices continue to rise. You’re in a good situation to sell at a reasonable price but still buy at a reasonable price, too.

As your Livermore real estate agent, I want you to know that it really comes down to a personal decision on whether you should sell your Livermore Valley home this summer or wait. Do you want to sell now? Do you have somewhere you’d like to move, or would you like to buy a bigger or smaller home? If you do, then yes, the conditions are great for selling. If you don’t, then wait it out.

Have questions? Ready to sell? Contact me!

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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