Selling Your Home in 2020

Although 2020 has been a tough year for everyone one good thing that has come out of is some of the cheapest mortgage rates on record available to people buying homes, which in turn means more opportunity for current owners to sell their home!

Mortgage applications have recently the highest levels since 2008, meaning more and more people are applying to receive mortgages for new homes, putting sellers in a very unique position. With this sort of market, sellers can be more selective of offers that they receive from people that view their home, as there will likely be someone else looking at their home at the same time or within the near future. Selling while in a “seller’s” market also doesn’t hurt your wallet, either, as according to data available on Zillow, the median listing price for a home in the United States right now is $340,000 which is up around 5% from the same time last year. This increase shows a higher demand/interest for new homes, while fewer homes are on the market. This, in turn, makes the chance of someone not just buying your home, but buying your home quickly, quite a bit higher. You also would likely get a higher price than you would’ve received last year or even earlier this year, as the Zillow data indicated.

The housing market is currently in a good place for sellers, so there’s no better time to sell your home than now! 

If you need help selling or marketing your home, contact ARK Realty by calling 419-617-7342 or visiting our website here!