Top 3 Advantages of Selling a Home Right Now in Olathe and Overland Park, KS

Top 3 Advantages of Selling a Home Right Now in Olathe and Overland Park, KS

The real estate market is changing in Olathe and Overland Park as interest rates increase, the real estate inventory starts to increase, and the number of buyers decreases. The good news is the changes have been slight and still offer homeowners thinking of selling three advantages.  

Advantage 1: The biggest real estate news is the increasing real estate inventory in Olathe and Overland Park. This is good news if you need to buy a home after you sell. Unlike this past spring which forced many home sellers to rent after they sold, home sellers can actually find a home to move to after they sell. In addition, home sellers will probably not be forced to pay 50-100K over value on their next home. 

Advantage 2: The National Association of REALTORS reported that there are 3.3 months of supply of homes on the market. Anything less than a 3 months supply is a Seller's Market. Although the number of homes in the real estate market has been increasing from its really low inventory amount in April, the inventory of homes for sale is still low. And in fact, in certain areas, it is still really low. The seller's market still gives advantages to sellers. Sure, you will not get 30-50 offers over the list price, but you may still get 3-5 really good offers and it only takes one good offer to sell. This past week, I helped two buyers with offers on purchasing homes. Both buyers got involved in a bidding war and both homes sold significantly over the list price. The real estate inventory is expected to increase which will turn the market for selling. It is still a good time to sell.

Advantage 3: Chances are you have recorded some awesome equity gain in the past year. The equity gains will help make it easier for you to absorb the small downward pressure on home values. The huge equity gains are expected to slow down and may make it harder for home sellers to absorb large home value decreases in the future.

Danielle Hale, Chief Economist at realtor.com, explains:

“Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion . . .

Bottom Line: Home Values are expected to slide further down in Olathe and Overland Park as interest rates and real estate inventory increase. If you are thinking of selling your home,  we can offer some insight into your specific situation.

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