As summer comes to an end, many people are askling, is now the time to sell my beach property?
Seasonally, we do have more people who decide to sell their property in the fall. But as a seller, you will want to always list your property when you can stand out from the crowd. This means that the best time is when there is less supply and more demand. That’s when you have a greater chance of selling the property and selling the property for more.
So far, we are seeing a 20 percent decrease in the number of new listings, which is a great thing for you as a seller. At the same time, our list to sales price ratio is at 98 percent. Thus, if you were to list your property today for $100,000, on average, you could expect to get $98,000.
Although interest rates have inched up, we are still seeing strong demand from people who want to get that beach property and/or people who may have cash or are taking advantage of alternative financing such as ARMs (adjustable rate mortgages).
When we’re at the pinnacle, the best way to put as much money as possible in your pocket is to take advantage of a time when we have low inventory and strong demand. This fall could be the best time for you.