Despite the pandemic, the housing market in Richmond, VA, has been thriving, and we predict it will continue to do so. A new wave of buyers and sellers is fostering high competition, resulting in many homes selling quickly with multiple offers. Are you missing out on the perfect opportunity to sell your home? 

Why is now the perfect time to sell?

Whether you plan on downsizing or upgrading your current home, now is the perfect time to make your move. Several factors contribute to this “perfect storm” in the marketplace, meaning that if you take advantage of the current market, you will be looking at a significant return on your sale. 

Low Mortgage Rates

Nationwide, buyers are seeing the best mortgage rates in decades. With lower rates, more families and individuals can afford homes in the area. This opens opportunities for buyers and creates the need for more homes in Richmond. Low mortgage rates will save you money on monthly mortgage payments and reduce the interest you will pay over time. 

High Demand for Housing

With rental rates in the area increasing, many residents are looking to purchase their own homes to escape high leases. As a result, many homes receive multiple offers, above the asking price, within days of listing. In fact, some buyers are putting offers on homes without even seeing the property in person (thanks to Zoom and FaceTime)! Many people see the value in owning a home and seek options in the area to replace rentals. 

With remote work becoming widely popular, workers no longer need to live close to their office, allowing many to explore new areas. This has led to more buyers entering markets that would not have been feasible with their old commute.

Low Supply 

Even with the highly competitive market, families and individuals are not discouraged and continue to search for the perfect home. Due to the limited supply, it is creating an excellent opportunity for sellers in Richmond. 

Thinking About Selling Your Home? 

As this article says, we believe there is no better time than NOW to sell your home. The best place to get started is by consulting with a realtor who is a local expert and having them give you a home evaluation. Working with an experienced real estate team like The Reynolds Team will help you consider all the factors to properly evaluate the value of your home in the current market. Our guarantees and programs will make working with us even more accessible! We guarantee we will sell your home, or our team leaders will buy it. We are also offering our Zero Commission program again for a limited time, which will enable you, as the seller, to sell your home for top dollar and for absolutely free. Call us to get more information and set up your free home evaluation! Call us now at 804-655-0651.