Inventory is growing, but it’s still a seller’s market
Spring is here, and it’s a fabulous time to list your home!
If you’ve been hesitant to sell, we understand. It’s been two tumultuous years. But the real estate market shows that inventory is starting to rise, and if you want to capitalize on this exciting spring market to win a fabulous price for your home, Karla Murtaugh Homes at Compass would like to help. And if you’re looking to buy, inventory is climbing and you may have more options in the coming weeks, so don’t give up!
“Fortunately, the market is not as frenetic as it has been in recent months, and more and more people are feeling comfortable selling. Inventories are still relatively low at this point, so it’s a great time to take advantage of a seller’s market,” Karla Murtaugh said.
According to Connecticut Magazine, at the start of 2022, statewide inventory was below a two-month supply, more than four months less than the typical market, so inventory will be the most important thing one to watch in 2022. The Multiple Listing Service’s year-end report for 2021 showed that monthly inventory supply was down nearly 38% from 2020, to 1.5 months statewide. The month supply describes the time it would take to sell all the homes on the market, given current market conditions. Historically, moderate price appreciation comes with about a six-month supply, according to the National Association of Realtors.
“One thing to keep in mind if you’re considering selling is that research shows that a staged home generally sells faster and for more money. The real estate market is very competitive and staging will give you a leg up on the competition,” Murtaugh said. “When a potential buyer walks into your house, you want to provide them with a backdrop for them to experience the house, a place where they can see how the rooms work and how the house ‘feels’. You want them to say WOW! “, she continued.
One of Karla’s favorite things about her new association with Compass is the Compass Concierge program which is designed to get your home ready for the market. From deep cleaning to aesthetic upgrades, Compass Concierge assesses opportunities to increase the value of your home. The program will provide a bespoke plan for updating and staging your home, as well as the means to execute it.
Compass bears the costs associated with home sale improvements and only collects payment for services rendered at the time of closing the property.
Plus, Karla’s own staging programs are designed to work within your budget and comfort level, and can either use your existing furniture and fixtures or bring in additional items. Most importantly, the staging allows you to get an objective opinion as seen through the “eyes of a buyer” – it’s not a reflection on your personal style or taste. , but about giving you the most bang for your buck and the best price on your sale.
For everything you need to know about selling your home, check out Karla Murtaugh’s Homes Seller’s Guide.