Did you know that 56% of home owners believe we are in a sellers’ market right now? Bay Area residents have become accustomed to seeing record high real estate prices over the last few years, but is it time to sell your home? That depends on many factors, and below we detail some of the top concerns on sellers’ minds.
Among those entering the real estate market, 40% are looking for a larger or nicer home, while 20% want a smaller or less expensive home. Only 15% desire a school district change. Nearly a quarter of people putting their homes on the market are relocating to a new city.
While there are many great reasons to sell a home right now, challenges remain. Thirty percent of sellers worry they will not find another home they like, while 25% worry they will not find a home they can afford. Nearly a quarter of sellers are concerned that high home prices will discourage buyers from purchasing their home. After the economic decline of the late aughts, we are all well aware that home prices don’t stay high forever. Twenty-six percent of sellers worry the price of their home will fall before they sell.