Last weekend, our clocks sprang forward, and with the longer days and quickly warming temperatures (not to mention the ramp up in vaccinations), this spring has all the ingredients for an extremely hot market.
Across the country, we’re currently seeing a booming seller’s market and the circumstances that spring naturally brings should be all the more reason for sellers to list their homes this season. Here are some of the key factors you should bring up to prospective sellers in your area:
Buyers are Purchasing Homes
Buyers are currently purchasing homes at a breakneck pace, with many properties going for well above asking price. With the warmer weather fast approaching, there should soon be a wave of even more buyers entering the market. This spring market could soon catch fire and you need to be prepared. Vaccinations are also ramping up so be ready for more potential buyers who are interested in in-person home tours.
Better Curb Appeal
The warming temperatures across the U.S. not only bring out new homebuyers perennially, but they also bring out perennials as well—flowers that is! After a long, snowy winter in much of the country, spring cannot come fast enough. We should soon see blooming trees, tulip bulbs and flower beds in front yards, which all set the stage for better curb appeal and should attract homebuyers.
Homes Sell for More (and Faster)
Annual studies have shown that homes regularly sell about 15% faster between mid-March and mid-April. Due to the current market conditions, it’s not crazy to expect even faster sale times in 2021. On top of that, buyers are regularly finding themselves in bidding wars and offering well above asking price, and we’re still seeing chilly weather in much of the county. Imagine what the market will look like in the coming weeks when it’s regularly warm outside!
Agents, what are some other factors that are luring buyers and sellers into your market this spring?
Jameson Doris is RISMedia’s social media/blog editor. Email him your real estate news ideas at jdoris@rismedia.com.