Have you been considering putting your house on the market? The good news for Chattanoogans is that now is the best time in years to sell your home! Demand in Chattanooga is at an all-time high, and the latest data from the Multiple Listing Service shows that listing prices are steadily rising, while the number of days on the market is dropping.
Rising list prices means you can sell your home for more than you might expect. Just this year alone, listing prices have risen more than 10%. In January of 2017, the Median List Price for Chattanooga homes was $207,000. Just three months later, in April of 2017, Median List Price rose to nearly $230,000! Combine that with a nearly two-week drop in Days on Market since last year, and you have a recipe for success.
Early Summer in particular is an excellent time to sell your home; the warm temperatures and longer daylight hours compel more buyers out to look at property. Buyers know that mortgage rates are still at historic lows, and they are moving quickly on properties so they can take advantage of these low rates before they undoubtedly climb back up. In some cases, buyers are competing with each other, putting sellers in a position where they have multiple offers on their homes and ample negotiating leverage.
With demand for homes through the roof, potential sellers aren’t having to worry about the headache of constantly prepping a home for showings and having to keep things “showroom ready” for an indefinite period. Inventory is moving so quickly, sellers in hot markets could potentially see their transaction happen in as little as four weeks, from listing to closing.
With over twenty million in closed sales last year, Brogdon Horsman knows this market. We leverage technology, social media, and traditional marketing to help our clients sell for the most money possible in the shortest amount of time, and with minimal hassle. If you have been thinking of selling, get in touch for a complimentary home value assessment. We’d love to see your home and share our marketing strategy with you.