As you might have heard, the real estate market nationwide is red hot right now and showing little sign of slowing. Now is the time to give serious thought to selling your home in St. Louis. The entire St. Louis area continues to be a seller’s market, which means there are more people looking to buy than there are homes available. Due to a veritable perfect storm of factors, now is an ideal time to sell.
We Are Coming Up On the Busiest Time of the Year
Spring is traditionally the best time of the year to sell a house, and we find that holds true in our local market as well. Spring is popular because the weather gets nicer, families want to close and move over the summer before a new school year starts, and it is easier to have better curb appeal in spring. On average, homes tend to sell for more money in the spring and summer.
Now is the time to start thinking about selling your home and reaching out to professional real estate agents to discuss your options. It often takes some time to prepare your home to sell, so if you start now you are likely to be ready to put it on the market during peak season. Professional St Louis real estate agents can provide appropriate suggestions to make your home as appealing to buyers as possible. We can help with staging, professional photography, and advise on ways in which your home could be improved for the market.
Homes Are Selling Quickly and Even for Over Asking Price
Like in most other major metro areas, home prices are soaring. Values in St. Louis are up about 14% since November 2020. Demand remains high and inventory remains low, which is making it one of the best times in recent memory to sell a house. Many homes in the St. Louis area are finding buyers before they even hit the market. With a professional real estate agent, your home can be marketed privately through professional networks and find a buyer fast. Depending on the condition, features, and exact location of your home, you might even get several offers that set off a bidding war, which could net you top dollar.
There are a number of reasons why the market is so hot right now. Inventory is at a historic low because new home construction has not kept up with population growth. Interest rates are also at historic lows, making it more financially feasible to purchase a home, especially for first-time buyers. Due to the ongoing COVID-19 pandemic, many people have been able to save money that they are now looking to put towards buying a house. Another reason is the large Millennial generation is beginning to seriously look at purchasing a home.
It’s Still A Seller’s Market
Even if your home needs work or is located farther out from city amenities, now is still a good time to sell because most homes continue to spend less time on the market than they did even a couple of years ago. This holds true for the entirety of the St. Louis area, whether in the city proper, the suburbs in the surrounding counties in Missouri, or the Metro East area across the river in Illinois. In Belleville, Illinois, for example, the most desirable homes are selling for around 4% over list price and go pending in a little over a week.
Experts remain uncertain how long the housing market will remain so hot for sellers. It is unlikely to continue at this pace, but trends are not showing signs of reversing in the immediate future. Still, it is likely a good idea to act now and reach out to Belleville real estate agents before the market begins to cool if you are on the fence about selling your home.
If you would like to discuss selling your home, reach out to Single Tree Team . Our trained agents are ready to use their specialized knowledge of the local market to get your home sold fast and for as much as possible. Whether you live on the Missouri side or on the Illinois side in the Metro East, we are prepared to help you get the best price for your home when you’re ready to sell.