Photo by iAlicante Mediterranean Homes on Unsplash

Dear David,

My family will be growing again soon! While we haven’t been in a rush to sell our current home as there is plenty room, we have been hoping to start looking for a larger space with more upgrades. We’ll be financially set when we go to buy our new home and we’ve completed several updates of our own so that the house is ready to sell when we go to list it. I’ve heard it’s a good time to enter the market, so I’m hoping to discuss with you whether my peers are correct when it comes to selling in the market and confirming that it is a good decision for my family. – Matt

Dear Matt,

The decision to sell your house can’t be based solely on market conditions, but the good news is that it is a great market for sellers. The limited inventory continues to raise home prices. And the latest data shows that nearly half of recently sold properties were on the market for less than a month. This is especially true in high demand neighborhoods. If you have equity on your side and find yourself with enough equity to pay off your current mortgage and provide at least a 20% down payment—it’s a good time to upgrade. Or, if you’re already out of debt or close to it with enough cash in the bank to purchase a home and keep an emergency fund then it might be taken as a sign that you are financially mature. With enough in the bank to afford to buy a home, you might be ready to purchase the one that exceeds your previous needs and expectations. The real question you must ask yourself is… are you ready to sell? If your answer is yes, then it’s time to get started. You’ve already completed a few updates to your home, so before you list, you’ll need to find out its current value and listing price based on comparisons in your market. You’ll also need to begin thinking about staging and landscaping, and finally, your strategy for negotiating offers. If you’re ready get started on these tasks, or would like additional information, please give me or my team a call. We’re here to help.

-David Watkins