If you’ve been thinking about selling your house to build your brand-new dream home, you’re in luck!
At a time when the Lehigh Valley is being recognized as one of the best places to live in America, a low supply of housing inventory has made this a strong seller’s market. According to WFMZ, housing inventory is down almost 40 percent from the previous year, with the average home taking just 41 days on the market to sell.
In addition to the short listing time, sellers should be most excited by how much of the list price they’re receiving: on average, homes in the Lehigh Valley are selling for 98.3 percent of the list price, the highest number seen since 2007.
For buyers, the Greater Lehigh Valley Realtors Association recommends acting fast. Scheduling appointments and knowing what you’re approved for can help potential buyers make an offer right away. With some homes selling in a matter of mere hours, waiting even a day can sometimes mean losing the perfect home.
Here are some tips for buyers and sellers to make the most of the current housing market:
- Don’t try to outsmart the market. The housing market is cyclical, and no trend ever lasts too long. Don’t wait for good weather to put your home on the market. The best time to list is now—a seller’s market won’t last forever, so don’t wait for the right season or a specific day of the week to sell your home.
- Be prepared to move. In a market that’s selling so quickly, it’s a good idea to have a backup plan for your living situation. You don’t want to have to reject a good offer just because you have nowhere else to go. Whether you’re building a new construction or buying a move-in ready home, have a plan in mind in case the offers come quickly.
- Know your buyers. Read up here and here on the newest generation of homebuyers to understand what they look for in a home, so you can make yours as millennial-friendly as possible. No matter how good the market is for sellers, you should always keep your home clean and ready to show for last-minute appointments.
- Schedule appointments. Planning a visit with the home specialist will make you a priority client and ensures that the specialist gives you the time and attention you deserve to see your potential new home.
- Get pre-approved. While not required, knowing what you’re approved for prior to visiting homes can help you make a decision more quickly. With homes selling so fast, putting in an offer right away is the best way to guarantee that you don’t lose your dream home.
- Scope out the community. When you choose a new home, you’re also choosing the community that comes with it. Make sure your ideal home is also in the ideal location. Neighbors are like in-laws—you need to love your whole community, not just your home.
With opportunities for recreation, booming industries, a rich culture and history, shopping, dining, and more, Allentown, Bethlehem, Easton, and the surrounding towns are some of the best places to live in the world—at least, in our entirely biased opinion. But one thing that’s indisputable: with such exciting developments in the region, there’s never been a better time to buy or sell your home in the Lehigh Valley.
Looking to buy a new home? We have move-in ready and customizable new construction options available in several amazing communities all across the Lehigh Valley. Click here or call Martha at 484-626-1616 to learn more!