Did I Miss My Chance to Sell My House and Make Money?

Did I Miss My Chance to Sell My Home and Make Money?  

Short answer? No! Sure, the local real estate market is moody, but surprisingly, there is still a housing shortage.  In Snohomish County, if no new listings came to market, every house currently listed would sell in less than a month meaning, we’d literally run out of inventory.

In a culture focused on instant gratification, it is easy to take a quick look at home prices and think, “We should sell!” because you want in on the action.  However, many of us have grown a somewhat skewed perception of the home selling process in general and how to determine when the best time to sell really is.

Here are some things to consider:

• What is your why? Does it make sense for you to sell now?  Maybe you found a new home you love that fits your changing needs, you have a new job that is too far to commute, you want to move into that award winning school district, etc. The list goes on.
• Everything is relative. If you sell for a little less now, chances are you’re also going to buy for a little less. If you had sold when home prices were at their peak, you would have also likely had to buy your new home at a peak price.
• Is your home ready? If your home was not in a ready to sell state when prices were at an all-time, unsustainable high, then the answer is no.  You did not miss out.  The best time to sell is when your home is ready to be listed!

Rising interest rates continue to impact buyers.  The current rates are forcing buyers to take their time to make sure they are spending their money on exactly what they want. Yet simultaneously, inventory is still moving.  The current average days on market in Snohomish County is 14 days. Free enterprise is a beautiful thing, it’s a pendulum that’s always swinging and we’re swinging toward a more reasonable, balanced market right now.

Consider your overall profit from the day you purchased your home; I’m guessing it’s an impressive gain. Since we can’t go back in time, I suggest we look forward and focus on what is currently happening.  If you’re ready to sell your home, now is still a great time to do it.  If you want to know what your home is currently worth, I am just a call away!