The Wall Street Journal recently reported that home sales in the United States have increased. According to the National Association of Realtors, sales have increased by 9.7 percent from last year and home sales are higher than they have been since November 2009. But it's not just national numbers that prove it is a seller's market. One of our recent blog posts reported that it is a seller's market in Wellesley, and now is the ideal time to list your home for sale.
National Statistics Show Sales are Up
There are many reasons home sales have increased and the Wall Street Journal reported four findings that show the market is currently ideal for home sellers.
Fewer Homes for Sale, But Increased Sales
Interestingly, home sales have increased since last year, even though there were fewer homes listed for sale. How is this possible? Lower interest rates have made it possible for buyers to purchase homes at a higher price, which increases the national sales figure.
Sales of Foreclosed Homes has Decreased
Homes that are not being foreclosed on, or non-distressed homes, are now selling faster. The Wall Street Journal reports that only about 18 percent of home sales in April were foreclosures or short sales. A year ago, 28 percent of home sales were of distressed homes.
Home Sales Increasing from Month to Month
Home sales increased by 11.9 percent between April and March. More people tend to list their homes for sale in April, but even with that fact taken into consideration, sales were still up by 1.8 percent.
Faster Homes Sales
The National Association of Realtors also reports that homes are selling quickly. For example, half of all the homes sold in April were only on the market for 46 days. In March, homes were usually on the market for 62 days, and one year ago, for 83 days.
Now is the Time to Sell
So what does this mean for you? It means that if you are considering listing your Wellesley home for sale, now is the time to do it. We recently blogged about research done on the Wellesley real estate market, which also found that it is a seller's market. There are fewer homes for sale in Wellesley, so by listing your home for sale now, you will have less competition and will likely receive more interest in your home.
Both national and local statistics show that it is a seller's market. National home sales have increased and homes in Wellesley usually sell for the listed price. If you list your home for sale now, you can rest assured that the market is strong and ideal for sellers.
You can take advantage of a lower Wellesley home inventory and increased home sales by putting your home on the Wellesley real estate market now. For more information about the Wellesley market, connect with us on Facebook. If you are interested in listing your home for sale, contact Christine Norcross at 781-929-4994.