WHY NOW IS THE TIME TO SELL YOUR HOUSE
Despite the uncertainty of the past 12 months, the residential real estate market is soaring. Home values rose considerably throughout the final three quarters of 2020, and so far in 2021, that trend shows no sign of stopping.
AN OPPORTUNE MOMENT: WHY NOW IS THE TIME TO SELL
According to the National Association of REALTORS®:
• Existing home sales totaled 5.64 million in 2020, up 5.6% from 2019 and the most since before the Great Recession.
• The median existing home sale price was $309,800, up 12.9% from one year ago.
• Housing inventory sank to 1.07 million and a 1.9-month supply – both historic laws.
Consistent, historically low interest rates and drastically short supply are the main factors fueling this dramatic rise in average home sales price. People spending more time at home is also factoring in, with many Americans now reevaluating what they want and deciding to make a change.
Altogether, these elements have led to an upswell of motivated buyers in search of new homes. And more often than not, those potential buyers are finding themselves in bidding wars over the homes that check all their boxes. It’s created what many experts will tell you is a seller’s market like we’ve never seen before.
SO I SELL MY HOUSE. THEN WHAT?
While today’s sellers are netting amazing returns, some may worry that their home sale will only thrust them into a frenzied, ultracompetitive buying landscape. That’s where making the move to a senior living community like John Knox Village East becomes the ultimate value.
An option that already had considerable built-in value, senior living may be even more appealing in today’s market. Going from your current home to a senior living community allows you to take full advantage of today’s red-hot market while gaining long-term security, peace of mind, and freedom from home maintenance. In addition, some communities are running incentives currently. With the increased price of your house and the discounts at senior living communities, you can walk away with more money left over than ever before.
Best of all, you won’t have to concern yourself with outbidding scores of other buyers to secure the home you love. Instead, it comes down to simply finding the community, lifestyle and residence option that suits you best.
After that, it’s time to relax and lean into your next adventure. And it’s the perfect time to connect with a network of neighbors who will quickly become like family, enjoy the benefit of being surrounded by everyday conveniences, and cherish the freedom to do more of what makes you happiest.