Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. It could be the perfect time for you to get a great price for your house. You'll want to consider the best approach for marketing your home, pricing it correctly, and timing the sale to take advantage of current market conditions. HousingWire shares:

“. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”

The NAR's data shows that the inventory of existing homes for sale in the U.S. has significantly decreased, and is currently at a level lower than it has been in many years. This makes it a favorable climate for those looking to sell their home, as there are plenty of buyers searching for properties. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market.

Today, there were 192 homes available for sale at this time. It's been roughly the same amount since the beginning of the year. This is up 70% from last year, but we still consider this amount to be low inventory in the Conejo Valley as it represents about 1 month of supply, meaning it would take just over a month for the current level of homes on the market to sell given the current sales pace. 

Why Does Low Inventory Make It a Good Time To Sell?

The current market conditions make it the perfect time for sellers, as the low inventory and high demand for homes allows them to get the best possible price for their property. Not only that, but there is also a greater chance of selling quickly when there are fewer other options for buyers to consider.

Given the current market conditions, it's important to take into account what buyers are looking for in a home. Make sure yours stands out by taking time to look for any improvements that can be made and address any areas that might turn potential buyers away. Additionally, consider pricing your home competitively and marketing it well to expose it to as many potential buyers as possible, creating the opportunity for a bidding war and ultimately helping you get the best deal possible. Clare Trapasso, Executive News Editor at Realtor.com, explains:

"Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country. So, this spring, it's especially important for sellers to make their homes as attractive as possible to appeal to as many buyers as possible.”

Bottom Line

If you’ve been waiting for the right time to sell your house, low inventory this spring sets you up with a big advantage. Let’s connect today to make sure your house is ready to sell.