So many people seem to be selling their home right now… It can’t be a coincidence.
Selling Your Home Now
I’m not sure where that saying came from… But, just last month, my next-door neighbor sold their home with a firm offer in less than 24 hours above asking price.
Then, just last week a friend of mine sold their home. It sold in under 1 week, also over asking price. (he set the price higher than he expected to receive!)
Real estate seems (at least in my area) to be selling like crazy. Even the real estate people I know are abnormally busy, earning commissions without much work needed. Surely, it’s a good time to be in real estate!
People Are Moving To The Suburbs
People in crowded areas (like big cities) are selling their apartments and condos for more suburban locations. Why?
I can only imagine the discomfort of being in an apartment building. Imagine getting into an elevator or other tight quarters with people, any of whom could be carrying coronavirus, possibly even asymptomatic. I think the lure of more space and social distancing available in the suburbs is VERY appealing right now.
That’s enough to drive people to a more spacious area. Especially now that many more work situations don’t require us to be in-person at the office, just working from home. Moving to the suburbs not only gets you to a (potentially) safer, socially-distanced area… but, you can typically afford a much larger, nicer home. After all, you’re spending much more time at home during the present and (most likely) future quarantine restriction periods. All of that reasoning means its a seller’s market. If you are selling your home (in the increased-demand suburbs), there’s a good chance you’ll sell quickly and quite likely above asking price.
Real Estate Continues To Be A Great Investment
It’s no secret that real estate is a great investment — possibly the best investment. Real estate trends for 2020 for specific cities (in the USA, Canada, Australia, and the UK) are the best places to invest in. I’m not sure if there’s a “right time to sell”, but at the moment, whether it’s due to the pandemic or not… the timing seems right. You might also consider the “Sold By Owner” initiative and save on real estate commissions.
Have you moved recently, or are you considering a move?