Our market is red hot at the moment—but why is that?
I probably don’t need to tell most of you that our market is hot, hot, hot—especially if you have a home to sell. But many are wondering why our market is so hot, and, as it turns out, there are many factors involved.
One reason is that while there’s not a lot of inventory available, there is a huge amount of pent-up demand because of the many buyers who have been in the marketplace for at least six months or longer looking for a specific home. With everything that has happened with the pandemic over the last few months, it’s put a lot of homeowner’s plans to sell on hold where normally we would have double or triple the amount of inventory we currently do.
Another factor is that we have some of the lowest interest rates I’ve ever seen in my 23 years in the industry. I’ve seen some of my clients get 2.99% on a 30-year fixed-rate mortgage.
Further still, there are a ton of buyers coming into Connecticut from New York, which increases our demand for housing.
If you’ve thought about putting your house on the market, I’d argue that right now is the best time to do so. And even though the market is red hot at the moment, you still need an experienced real estate agent at your side who knows about price, position, and marketing so that you don’t end up leaving money on the table.
So if you’re considering selling your home, don’t hesitate to reach out to our team. We’d love to help you with all your real estate needs.