As the spring real estate market approaches in San Jose, there are two important things that sellers need to keep in mind.
The first thing to note is that inventory in San Jose is currently low. This means that there are fewer homes on the market for potential buyers to choose from. As a seller, this can work in your favor as there is less competition, but it's important to price your home competitively and showcase its unique features to make it stand out to buyers.
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
The need to price your house right is so important today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains:
“With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust their price expectations in the market this spring.”
While this spring housing market is different than last year’s, sellers with proper expectations who lean on a real estate expert for the best advice on pricing their house well are still finding success. And that’s great news if you’re thinking about selling.
Despite the low inventory, buyers in San Jose are still motivated to purchase a home. Interest rates are still low, and there are many buyers who are eager to take advantage of the current market conditions. As a seller, you can use this to your advantage by pricing your home appropriately and making sure it's in good condition to attract serious buyers.
“For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months.”
That’s why, if you’re interested in selling your house this spring, it’s helpful to work with a real estate agent who can help connect you with those buyers who are ready to purchase a home.
There are still clear opportunities for sellers this spring. If you're planning to sell your home in San Jose this spring, it's important to be aware of these market conditions and work with a trusted real estate agent who can help guide you through the process. With the right strategy, you can successfully sell your home and take advantage of the current market conditions.