Main Line Real Estate Inventory Update is UNBELIEVABLE! The real estate market is booming, there hasn’t been a better time in the history of real estate to sell your home. Right now there is extremely limited inventory. There aren’t enough houses on the market for the number of buyers that we have that want homes. I’ve been helping people selling their homes for years. I also have a large pool of buyers looking to purchase a home. The absorption rate right now is a 1.2 month supply of inventory in Wayne PA 19087 and an 80% absorption rate Anything 20% or higher is a seller’s market and we are at 80%, which is a sign of the market hugely in favor of sellers. In Wayne PA and most Main Line Towns, there is only one and a half months supply of inventory. . . I’ve NEVER in my years in the industry seen it this low. That is insane. What that means is that we are in an extreme seller’s market, homes are staying on the market for less than a week. With that being said, sellers have all of the control, have the ability to choose the cream of the crop terms and conditions. They can be very selective when choosing which offer to take. And remember, don’t be afraid to counter anything that you want that will make the transition, terms, and experience meet all of your expectations, you’re in the position to do so.
Here are few things to think about. Timeframes, choose the best timeframe for settlement that works for you. Also, Shorten up contingency dates for inspections, loan, and the appraisal, or even better take an offer that has NO contingencies at all. You could sell the home As-Is, which means that if the buyer asked for any repairs or found something wrong with the home you wouldn’t be obligated to fix it. Also, there are things that are typically customary for what a buyer would be responsible for and what a seller would be responsible for. For example in Montgomery, Delaware, and Chester County, the transfer tax is commonly split evenly between the buyer and seller, but in this market, you could counter that out and ask for the buyer to pay for it all. There are quite a few more things to consider and negotiate on your behalf, but I don’t want to keep you for too long, so if you’d like more information and are thinking about selling, give us a call at any time with any questions, we’d be happy to help! And be sure to check out our YouTube channel Kimmy Rolph Real Estate for more tips when selling. And don’t forget if you’re thinking of selling your home here in Montgomery County PA, Delaware County PA or Chester County PA we are your Main Line specialists. Kimmy Rolph sells the Main Line and local areas.
