On the fence about selling your home? We believe this is a year of great opportunity.
2018 was a unique year for the real estate market in Indianapolis and 2019 seems to be following a similar trend. While the spring and fall markets always tend to be the busiest times of year for real estate, last year was marked by one of the strongest seller markets we have ever seen in the spring followed by a very calm fall and winter. So far this spring, we are seeing some indications which indicate similar patterns and we anticipate the market could lead to record breaking home prices.
But will it last or even follow a similar cycle next year? There is no way to know but should you sell in 2019? That all depends on your individual situation.
Here are two good reasons to sell in 2019:
Interest rates are still low
Lower interest rates means that buyers will be out looking for homes. Because interest rates can be unpredictable and have been steadily rising, waiting may not make sense. If you love your home plan on staying for at least the next 5 years, stay. But if you plan on selling in the next couple years, this is the time.
Spring 2019 will likely be the peak of the market for the year. This is when the most buyers will be out searching for a home so that means getting the best value possible for your home. This also means that you will still be able to get a great interest rate on your next house.
You have good equity in your home
Now is a great time to sell if you have substantial equity in your home. This is for several reasons but the main being of course that if you sell and walk away with a significant profit, you can put that towards your next home. This means that you look better to lenders and will likely secure a lower interest rate and thus monthly payment.
As always, the market can change quickly. We believe that no matter your situation, the more informed you are, the better off you will be. If you have questions, please do not hesitate to contact us. We would be happy to provide you with a custom complimentary market analysis.