Part One
Believe it or not we are about 60 days away from the start of the spring/summer selling season. Put your seat belt on because this year promises to be a wild ride. Want to know what to expect? Here are some highlights and predictions.
- Low inventory will be the name of the game again this year. Right now as I write this at the end of February there are 2,800 homes on the market. That’s actually down from last year at this time by about 10%. The highest number of active homes for sale is coming. Between the third week of March and the third week of May we will hover around 8,000 -10,000 active homes on the market. If you are buying during this time period, this will be your best opportunity to find a re-sale home. If you are a seller this will be the time period when the most number of buyers are in the marketplace, however it’s also a time of your greatest competition.
- If you are thinking about selling, speak with us NOW and here is why. Let’s backtrack for a second to see how the process works. If you want to be on the market by the third week of March you want to speak with us or any other Realtor now. Then you want to hire us and begin getting the house ready for sale. Some of you will need several weeks to get projects done others will just need a few days to de-clutter. Then comes the copywriting, the photos, video work and other marketing items we need to accomplish before your house goes on the market. I would give yourself a good 30 days to get ready to sell your home. If you want to be active in the MLS on March 23rd, let’s get started today.
- Most economists that I follow are predicting a tale of two different halves. The first half of the year is going to be brisk with plenty of sales and activity, the second half of the year is going to be slow with homes sitting on the market and price drops. This will be due primarily to the extreme rise in costs to buy a home. The average home prices is getting so high that few people can afford to buy and interest rates are creeping up. These factors alone are fueling the speculations on a sluggish second half of the year. For this reason, we are advising our clients to get their home on the market with us NOW and let’s get it sold before the end of June.
- Getting your home on the market can be a daunting task, but don’t let it overwhelm you and stop you in your tracks. We have a team of people that can help you from de-cluttering your home to painting, new carpet, small projects and large projects. When you hire us we literally are a one-stop shop. We will bring in all the contractors and get all the work organized and completed for you so you have the best home on the block when you go active on the market.
There is a lot more to talk about in preparing for the spring/summer selling season so if you would like to talk with us please contact us at team@thehawaiiteam.com or 808-913-0899. We would be happy to discuss your wants and needs, how we can help and paint a picture of what could be. Next week we’ll take a look at what the spring/summer selling season looks like for buyers. Go to https://thehawaiiteam.com/blog to read more on the spring/summer selling season for buyers.
Read Part 2
All reported sales were not necessarily listed or sold by the broker and are intended only to show trends in the area or shall separately identify the broker’s own sales activity.