Like most things in life, selling a home in today's market comes down to timing. Did I put my home on the market too soon? Will interest rates drop this summer and we'll go back to multiple offers? Did I wait too long? Are interest rates going to continue to climb? None of us have a crystal ball and can predict the future, however the five reasons listed below give a good indication that now may be the time to sell.
1. The Desoto market is still hot. Even with interest rates fluctuating homes in Desoto are still selling. According to the North Texas Real Estate Information System, homes in Desoto are selling at, or near, 100% of their list price.
2. Desoto public schools are on the rise, and so are property values. Over the past three academic years Desoto ISD TEA Accountability ratings have been on the steady rise. For the 2021/2022 school year they achieved a B rating with one school scoring in the 92nd percentile. Better schools lead to better communities, and better communities lead to higher sales prices.
3. Low inventory. As of this morning there are only 49 homes listing for sale on the market in Desoto. This may not seem like a low number until you consider Desoto's population is almost 55,000 people. When something is scarce in the market (i.e., homes for sale), it leads to more aggressive buyers who submit stronger offers.
4. The market usually heats up in the springtime. There are two reasons more homes hit the market in the spring:
A) Most families don't want to relocate their children in the middle of the school year.
B) Once families complete their tax returns, they have a much better grasp of their finances for the year.
5. The potential to upsize with new construction. Even when there is market uncertainty builders are still building. And right now, builders in Desoto are offering some AWESOME incentives (i.e., paying 100% of closing costs, free upgrades, etc.) to get you to sign on the dotted line. This may be a great opportunity to get you into a new home and use your equity to buy down your interest rate.
If you have questions about when the best time is to sell your home, or you'd like to schedule a free equity consultation please give me a call at 214-799-0019. And if you think this info can benefit someone else, please feel free to share.
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