FAYETTEVILLE, N.Y. (WSYR-TV) — If you’re thinking about selling your house, now might be the right time. Real estate agents say we’re in a seller’s market boom.
That’s great, of course, if you’re selling. Not so much for buying.
“I haven’t ever seen it this hot of a market,” said realtor Andrew Alpern with HUNT Real Estate.
Alpern knows the market is always fluctuating, but in the past five years, he’s never seen a seller’s market thrive quite like this.
This week, one particular house sold within 24 hours and for above the asking price. When houses go that quickly, Alpern says there are a couple of factors.
“Interest rates are really low so it’s still not a bad time to buy a house,” said Alpern. “There’s not a lot of move-in ready inventory that’s priced right.”
Alpern has seen a trend over the past few years where more and more people looking to start a family want a home that’s ready to go. So when they find one, they bite.
“A lot of times they’re asking or over asking depending on the house,” said Alpern.
There’s just no telling how long this particular boom will last. “It could flip on us at any point,” he said.
The biggest factor is supply and demand. Something agents like Alpern can’t entirely predict.
“Sometimes it slows down when kids are off from school and people are on vacation, which right now it can slow down but there’s always the ups and downs,” said Alpern.
Right now we’re ‘up’ and the demand is hot. So if you want to sell, Alpern believes now is a good time.