When you’re thinking about putting your home on the market, it can often feel like you’re performing a high-wire act—constantly balancing the pros and cons of the current real estate landscape, juggling your own moving plans, and perhaps even dealing with the emotional attachment you have to your home. It’s a lot, we get it. But here’s the kicker: The limited number of homes available right now could be the golden opportunity you’ve been waiting for. So let’s unpack this a bit further. In a low-inventory market like the one we’re in, your property isn’t just another listing—it’s a hot commodity.
Buyers are often willing to go the extra mile (and extra dollar!) to secure a home that meets their needs. This gives you, the seller, a unique advantage to not just sell quickly but also to potentially get a higher price than you might have imagined. So don’t let the jitters hold you back; a low-inventory market could very well tip the scales in your favor, making this the perfect time to take the plunge and list your home.
The number of homes hitting the market these days is way lower than what we’re used to seeing
You know that feeling at a party when everyone’s eyeing the last slice of pizza, but there’s just not enough to satisfy the crowd? That’s a pretty accurate snapshot of today’s housing market. Simply put, there are way more people eager to find their dream homes than there are available properties. It’s like a game of musical chairs, but with houses—once the music stops, you better hope you’ve secured your spot, or you’ll be left standing.
To really illustrate just how tight the current inventory levels are in the housing market, let’s take a closer look at some freshly crunched numbers. The chart below features data straight from Realtor.com and showcases the number of active home listings for this September compared to typical numbers from previous years. Spoiler alert: the listings are significantly fewer this time around, signaling an unusual landscape for both buyers and sellers.
Take a good look at the graph above. See those calming blue bars? They illustrate what we’ve traditionally known as ‘business as usual’ in the San Diego real estate market. But now, let your eyes drift over to that intense, impossible-to-ignore red bar—that represents this year. Even a fleeting glance makes it abundantly clear: we’re not just a little bit off from what we used to think of as ‘normal’ inventory levels; we’re in an entirely different ballpark. The scarcity is real, and it’s making waves throughout the market, impacting both buyers and sellers in ways we haven’t seen before.
What Low Inventory Means for You
Look, house hunting these days feels a lot like a high-stakes game of musical chairs—except the chairs are houses and they’re disappearing fast! With fewer homes available compared to previous years, now could be your golden opportunity to sell. Homes that are priced to align with today’s market conditions are practically flying off the shelves. We’re talking record-breaking time frames and sellers finding themselves in the enviable position of sorting through multiple offers from buyers who are ready to pounce. Need some hard data to back that up? According to the latest Confidence Index from the National Association of Realtors (NAR):
- Nearly 70% of homes are flying off the market in less than a month.
- Sellers are, on average, fielding about 2.6 offers on their homes.
And it’s not just us saying this; a recent article from Realtor.com echoes the benefits of selling in a tight market. So, if you’re on the fence about selling, these numbers might just tip the scale in your favor.
“. . . homes spent two weeks less on the market this past month than they did in the average September from 2017 to 2019 . . . as still-limited supply spurs homebuyers to act quickly . . .”
The Takeaway
With low inventory and so few homes on the market right now, buyers are practically biting their nails, eagerly waiting for that ‘just-right’ listing to pop up. Your property might just be the hidden gem they’ve been tirelessly searching for! So why wait? Reach out to the McT Real Estate Group and let’s strategically list your home at a price that not only mirrors the current market dynamics but also aims to fatten up your wallet. Seriously, with the way things are going, your home could be off the market faster than you can say ‘sold’—and hey, you might even find yourself in the enviable position of juggling multiple offers.