If you’ve been thinking of selling your house, you shouldn’t wait around. 2021 has seen unprecedented demand, creating a true sellers’ market across the country. There has never been a better time to sell your house — and these unique circumstances may not happen again for quite some time.

The Top 3 Reasons Why You Should Think About Selling Your House Now

1. Low Inventory

A brief look at real estate listings shows that the inventory of available homes is at all-time lows. A wide range of issues are contributing to this aside from buyer demand. Shortages of lumber and other building supplies means that fewer new homes are being built. Also, since homebuyers are getting good rates on home loans, more are looking to buy their first homes.

2. More Demand 

Part of the low inventory is the result of buyer demand. People who were already planning to move were unable to look at homes while COVID-19 restrictions were in place. As these restrictions have been lifted, buyers have returned en masse. 

This is further accelerated by the increased prevalence of remote work stemming from the pandemic. People are leaving large cities because they want more space for their money. In some cases, buyers are paying well over the asking price and forgoing the inspection to get the house they want.

3. Higher Prices 

High demand and low inventory have caused housing prices to skyrocket. Home prices increased during 2020 and have gone up even more in 2021. This gives current homeowners more equity that they can take out and use toward buying their dream home. In fact, during 2020, the average homeowner saw their home equity increase by $17,000.

If you’re thinking of selling your house, contact Lawrence Realty in Red Wing, MN. Serving Minnesota and Western Wisconsin since 1948, their real estate agents will help you navigate the selling process to get the most competitive offers for your home. To learn more about their services, visit them online or call (651) 388-4745. If you're a current or past client, leave them a review on Google.