Around this time each year, most homeowners thinking about selling their condo delay the process until Spring. If you live in Jersey City, where property prices are rising steadily, and you are thinking about selling your condo, you might want to put it on the market now rather than wait until next Spring. There are many reasons for this.
Firstly, home purchase contracts are at their highest since 2007; this means there are many buyers in the market. Secondly, inventory is low in Jersey City condos, which means there is a really good chance you will get multiple offers, and multiple offers will most likely get you one or several offers above your list price.
Furthermore, listing at a time when inventory is low will allow your condo to stand out more, as you won’t be competing with the many listings that hit the market next Spring. Interest rates on conventional fixed loans are rising, and this is expected to continue. Buyers' affordability decreases with rising interest rates; this means the pool of buyers who can afford to buy your waterfront condo now will decrease by next Spring as they simply will not be able to afford it.
So go ahead and list your condo now; don’t wait for Spring. For more information on the benefits of listing now rather than later, or if you would like to find out how much your Jersey City condo is worth, call Janice Hall, Weichert Realtors, at (201) 232-8577.
