New Jersey’s real estate market is hotter than ever. If you’re a seller looking to win big, here’s your moment to shine. According to CNBC reports, inventory nationwide was 20% lower compared to last year (March). With the Covid-19 pandemic previously keeping most of the country locked in, people have placed home-buying at the top of their priority lists. With record-low mortgage rates and low inventory, bidding wars have become all too common. As the market boom continues, homeowners sitting on their property are wondering whether to sell or stay put? Uncover our critical insights below! 

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Selling in a Low Inventory Market

In a seller’s market, there are more home buyers than sellers, making the pricing demand for homes surge. It’s a perfect time to place your property on the market to monetize on the competitiveness facing home buyers. With low inventory challenges, potential buyers have a greater sense of urgency willing to overbid one another to seal their dream homes. Sellers now are receiving substantial bids in record time.

Skip On the Renovations

Often, when you decide to sell your home, minor (or major) repairs and upgrades need to be done before showings. With the market uproar, homebuyers are closely following real estate listings and jumping on properties that may not meet their desired design. Sellers could likely save some money by limiting forgoing expensive projects altogether. Significant problems, of course, like a leaky roof, have to be addressed before a potential home buyer purchases, but fixing an older design bathroom to modern is not a concern in this market. As a seller, your responsibility in this fast-paced market is to declutter your home and depersonalize the house, so it’s easier for buyers to imagine themselves living there. The homebuyers are so eager to get in they will fix it up to their liking and renovate it on their dime and schedule.

Sellers Have the Upper Hand

The primary motivation for selling in this market is that you can save for another investment such as a new home or relocating for retirement, the option is yours. When you work with a top listing agent in New Jersey, you can have insights into upcoming homes approaching the market or access to exclusive rentals, fitted for your new lifestyle.

Monetize on the Market Now Before it Reverts

With the country opening back up, many are considering selling their properties sooner rather than later. Marking a potential shift in the market. Should mortgage rates change, this could compound the number of home buyers available making the opportunity to sell that much more appealing to earn a profit.

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Casa Real Properties can help match you with a top listing agent in New Jersey! Receive a complimentary assessment of your home now, without any obligations. We will be with you from listing to close, our commitment to you. Discover more about our home listing services.

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About the Author: Nancy Pavic

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Nancy Pavic is an expert in the New Jersey real estate market. For the past 25+ years, she has brokered Casa Real Properties, a well-distinguished real estate office in the Northern New Jersey area. Her prestigious awards include membership into the Top 1% of Realtors, the “Circle of Excellence” award by the New Jersey Association of Realtors, a front page cover spread of Top Agent Magazine, and a recipient of the Mayoral Award for Financial/Real Estate at the 2009 Paterson Women’s History Awards Ceremony.