Wondering if it still makes sense to sell your house right now? The short answer is yes. And if you look at the current number of homes for sale, you’ll see two reasons.
An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:
Here’s a breakdown of how this benefits you when you sell.
1. You Have More Options for Your Move
Are you considering selling because your current house is too big or small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.
So, if you were holding off on selling because you were worried you wouldn’t find a home you like, this may be just the good news you needed. Partnering with a local real estate professional can help you ensure you’re up to date on the homes available in your area.
2. You Still Won’t Have Much Competition When You Sell
But to put that into perspective, even though there are more homes for sale now, there still aren’t as many as in a normal year.
Remember, the data from Calculated Risk shows we’re down nearly 40% compared to 2019. And that large deficit won’t be solved overnight. As a recent article from Realtor.com explains:
“. . . the number of homes for sale and new listing activity continues to improve compared to last year. However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”
If you work with an agent to price your house right, it should still get a lot of attention from eager buyers and could sell fast.
Bottom Line
If you’re a homeowner looking to sell in Chicago, Illinois, now’s a good time. You’ll have more options when buying your next home, and there’s still not much competition from other sellers. If you’re ready to move, let’s connect with Chicago’s top-rated real estate agents to get the ball rolling.
