By Michelle Gillespie
The 2023 real estate market has arrived with some concerns about how the housing market will perform this year. We had three great years. Sellers have found their homes appreciated in value upwards of 30% or more in the past two years and particularly in 2022. As a leader in our real estate community, I believe the market will continue to stay strong but not quite like the past two years. The reason I believe our housing market will stay strong is the lack of inventory that continues to exist year after year in our area, coupled with the lack of inventory in the rental market and increased rental prices. Home values significantly appreciated in the past year and as a top producing realtor, I know there are still many buyers looking for new properties.
So, what does this mean to you as a seller? Less competition, good sale prices, and a large buyer pool! There is no doubt your house will sell this year; it is just how high it will sell for and that is where I can help you. Let us look at the current inventory numbers available in our surrounding communities and compare to the last two years.
A deeper dive into the most popular price ranges within these communities shows the limited inventory in various price ranges.
The reasons why it’s the perfect time to list your home:
- Homeowners have gained a significant amount of equity in their home since 2020.
- Capitalize on these market conditions with the equity you have built in your home.
- Buyers will compete for your home due to limited inventory.
- The supply of homes for sale both regionally and locally is at record low numbers which means many more buyers competing for your home.
- Buyers will compete for updated and modernized homes.
- Consider downsizing from your large home and maximize your equity.
- Or move up to a larger home with the equity you have established in your current home.
- With a rental market that has limited inventory there are a significant number of first-time homebuyers.
- Market conditions have never been so positive for sellers.
- Conditions are in your favor – Motivated Buyers + Limited Homes For Sale = 2023 a Great Year to Sell.
Are you ready to sell?
We all remember how robust the real estate market was for 2022. This year has kicked off with similar conditions such as limited inventory and high buyer demand. While interest rates did increase this past fall, they have shown signs of stabilizing, along with lenders offering a variety of financing options. With buyers looking for new homes to purchase, now is a great time to join many other happy sellers and profit from this real estate market.
Now’s the Time!
If you want to sell your home this year and would like to discuss the best approach for a positive outcome, call me, Michelle Gillespie at 508-934-9818, or e-mail [email protected] Visit my website at www.michellegillespie.com for more information.
Direct Line: 508-934-9818
10 Main St, Northborough
#1 Realtor in Northborough*
*Per MLS data 2022
Each office is independently owned and operated.
Keller Williams Pinnacle Metrowest
114 Turnpike Road, Suite 201
Westborough, MA 01581
All sales data is obtained
from the MLS PIN