Have you been wondering when is right time for you to sell? Maybe you’re curious about what the market looks like for sellers.
You would find it to be in your best interest to sell your home sooner than later. If you are looking to sell your home, experts are reporting that selling in 2019 will be better than trying to sell it in 2020 or 2021.
According to a recent article, US News reports that patterns in the real estate market indicate that it is unlikely that there will be any sudden upward changes in the near future. Devon Thornsby of US News notes that “real estate markets tend to operate on a cycle of their own, the length of which varies by market but can be between 10 and 16 years total and flow from a seller’s market to a buyer’s market with a period of balance in between.”
To get a better understanding of where the cycle started, in May of 2007 the average sales price reached a historic high for Orlando at $320,727. That puts Orlando at a 12 year mark into a 10-16 year long cycle. The lowest point of the market was in February of 2011. A snapshot of the average sales price for homes in Orlando so far this year is $279,388.
With current projections, it there is no better time than the present. If you’re looking to sell your home or any properties you may have — now is the time before the market makes any significant shifts.
For a full read on the topic, CLICK HERE for US News’ story.