Is Now A Good Time to Sell Your Long Beach Home?
In the past two years, the median sales price of a single family home in Long Beach has gone up more than $100,000, meaning many homeowners went from having little or no equity to being in a positive equity position. Meanwhile, after increasing a bit last year, the inventory of available homes for sale in Long Beach has declined again. Low interest rates and the fear that rates may rise has increased the number of buyers looking.
In short, as we head into spring, we are seeing an ideal market for home sellers in Long Beach and surrounding communities. Multiple offers have become frequent again.
If you are considering selling a home in Long Beach and buying a replacement home, putting your home on the market in spring can allow you to find a buyer for your home, locate and negotiate a contract for your next home, and be in your market by summer.
Many people believe that summer is a good time to list a home, but planning and placing your home on the market in spring allows you more options. If you’re planning a purchase as well, acting now rather than waiting will also make it more likely that you’ll be able to take advantage of the low interest rates that are helping drive buyer demand. Many economists predict that interest rates will increase by the end of the year.
Wondering what your home is worth now? For a comprehensive market evaluation, give us a call at 562.896.2456 or fill out the form below. If you’d like a fast, free automated valuation that’s more accurate than Zillow, click here. Or if you’d like a monthly summary of all the latest stats, trends, listings and sales in your neighborhood, sign up for our Market Snapshot here.