2020 has been an interesting year for all of us and the real estate market has also seen its fair share of a shake-up. However, this summer market is HOTTER than ever! Buyer demand is sky-high and homes are flying off the market. Here’s why a sizzling summer seller’s market means for you.
Sellers have an advantage
If you’re a seller, your home is going to get plenty of attention right now. Market inventory is still at lower than normal levels and yet the buyers are coming in droves. More buyers and fewer listings place your home in high demand, making the buyers more competitive, encouraging multiple offer scenarios. Homes are also being priced higher than in previous months. Realtor.com’s June 2020 report* shows that the median national home listing price growth accelerated by 5.1% to $342,000.
Low mortgage rates are ramping up demand
We’ve seen some record-breaking low mortgage rates in the last few months. and buyers are taking advantage, the ,which is helping to drive the market full steam ahead. This means that more buyers can afford homes at higher price points and are serious shoppers. By getting pre-approved by a lender before viewing homes, buyers are proving their intent and putting in offers quickly.
We know what buyers want
Millennials make up the majority of homebuyers in 2020 as they enter their prime home-buying years. They are searching for turn-key homes that are updated and fresh. An Accredited Staging Professional® visits every home listed by Northrop Realty and provides custom staging recommendations and feedback so your home stands out from the competition.
Seamless experience and incredible results
In addition to the professional stager that we mentioned above, Northrop Realty sends a team to capture high-definition 4K Fusion™ photos and uses state-of-the-art technology to create an interactive 3-D virtual walk-through and also generate 2-D floor plans. Our in-house best-in-class marketing department sends out a weekly digital newsletter showcasing our hot new listings to 69,000+ subscribers. You don't pay extra for these high-tech high-quality services, it's simply what we do, and it works.
With the lowest inventory in 12 years and plenty of qualified buyers, list your home with Northrop Realty, and consider it SOLD! We know what it takes to get you from contract to close as quickly and smoothly as possible. As a leader in the real estate marketplace, we use the highest degree of professionalism and expertise to meet and exceed the needs of our clientele. Visit our website to learn more today.
Ready. Set. SOLD!