What is the meaning of a Sellers’ Market?
As you may or may not already know, it is a sellers’ market in the world of real estate.
But what does that mean exactly?
The short answer is that there are more buyers than there are sellers in each marketplace.
As of the writing of this article, there are a total of 23 homes for sale in Northampton Township.
Out of these 23 homes, 15 of them are single-family homes and eight of them are townhomes or condos.
As you can see by those numbers, that is not a lot of houses for sale in the township!
There is no way of tracking of exactly how many buyers are out there looking at the present time, but I will tell you there are a lot of home buyers looking to purchase a home right now.
One of the main reasons that people are looking to purchase now, is that the mortgage rates are still under 3% for a 30-year fixed loan.
So, even though a buyer may pay more for the home, they will make up for it with lower monthly payments based on the lower mortgage interest rates.
However, this current situation is like anything in life, it will come to an end at some point. When that end will happen is anybody’s guess.
So, if you are contemplating selling your home, now would be the ideal time to list your home for sale.
You will get top dollar for your home and chances are, you will receive multiple offers. With this type of environment not only will you get the most for your house, but you will also get a buyer with the best possible terms.
Please feel free to contact me at any time at 215-630-9363 if you are looking to sell your home!