Summer is almost here in Central Ohio, which means we’re on the brink of the busiest real estate season of the year. It won’t be long before more listings hit the market, and thousands of buyers will begin their long-awaited searches. But if you aren’t quite ready to sell your home, we have a few details that might just change your mind.
3 Reasons Why You Should Sell Your Home Soon
Selling your home is a huge decision, so it’s not a choice you should make lightly. However, there’s never been a better time to list and cash out on your hard-earned equity! Here are a some reasons why now is the perfect time to sell in the Central Ohio area.
It’s still a seller’s market
Believe it or not, the Central Ohio real estate market remains geared towards sellers. A combination of climbing home prices and diminished inventory has created favorable conditions for those looking to list—and many homes fly off the market in just a few hours.
Wondering why the market is so hot? Columbus was recently ranked the seventh hardest city in the nation to find a home, and it’s also one of the country’s fastest growing cities. This has created fierce competition amongst buyers, especially for homes under $400,000.
Mortgage rates are low
In response to global events, the Federal Reserve has slashed interest rates for loans multiple times over the last few months. These historically low numbers have encouraged many buyers to make a move, which has also created an even greater demand for homes.
The current interest rate for a 30-year fixed mortgage is just 3.375%, while 15-year fixed mortgages sit at around 2.875%. And as the housing supply in Central Ohio begins to dwindle, sellers everywhere are reaping the benefits of low supply and high demand.
Prices remain high
Home prices in Central Ohio have trended higher and higher over the last decade. In fact, the average home value in the Columbus metro area has nearly doubled since 2013, and we’ve also seen the same kind of dramatic increases in suburbs like Pickerington.
If you’ve been in your home for a few years and want to make the most out of your existing equity, now could be a fantastic time to sell. Home prices are also expected to dip a bit during the next few months, so you won’t want to wait much longer to put your house on the market!
Eager to Sell Your Home?
Selling your home might seem difficult…but we’d love to change your mind. The Don Shaffer Team has plenty of resources to help Central Ohio sellers, and we also offer a 90 Day Home Sold Guarantee. Just reach out to us via phone, text, or email to take your next steps today!