Thinking of listing your ranch, farm, recreation, or luxury property this spring? Here are 5 reasons why now is the right time to do it!
- Listing now will position you ahead of the competition. Historically, spring has been considered “listing season,” but if the last two years have taught us anything, nothing is normal or typical anymore. Across the country, real estate professionals are seeing an increasing demand for high-end properties; with very low inventory currently available, there are plenty of buyers ready to act now. It seems we have moved out of what is commonly referred to as a “seller’s market,” and have headed toward a more level playing field between buyers and sellers. This has resulted in a stabilization of the market, what many have been feeling was inevitable and necessary. With some sellers hesitant to list because of this shift you’ll likely attract more buyers now than if you wait until spring.
- Another factor to consider is interest rates. While the Federal Reserve has made several rate hikes over the last 11 months, it seems likely that we are through the worst of it. Many buyers have been sitting on the sidelines, waiting, and watching to see what the economy will do. The latest rate hike, the lowest rate hike since March of 2022, has many buyers feeling encouraged and optimistic about the economic future. With this optimistic approach, they are ready to buy now.
- New construction over the last couple of years has seen many challenges as a result of COVID-19. Many contractors are short on labor, and supply constraints have made the cost of construction materials skyrocket. With these surges in labor and material costs, buyers are opting for properties that are already built, even if those properties don’t check all of the right boxes.