Have you recently considered selling your home on the Santa Monica real estate market so you can upgrade to a bigger, better home? According to Santa Monica real estate agents, if you’re in a situation like this, there are currently advantages for both buyers and sellers in the Santa Monica real estate market.
If you are selling your home, you should know that home prices have been steadily increasing since the end of 2011; in fact, home values have increased almost 16%. Sale prices on homes have also increased almost 11% along with the sale-to-list price ratio. If you were worried that you wouldn’t get a decent price on your Santa Monica real estate property, there’s actually no need to worry. Another encouraging reason to sell your home on the Santa Monica real estate market right now is because inventory is at an all-time low. Supply-and-demand has caused homeowners to receive multiple offers on their homes, sometimes for more than what they’ve even listed their home at.
While we’ve made selling your home on the Santa Monica real estate market appealing, here are a few pros for when you started shopping for that new home. Mortgage rates are still at historical lows. Santa Monica real estate agents say that interest rates have only increased about a half of a percent over the last few months and they’re hoping it stays that way. The number of homes sold on the Santa Monica real estate market has also increased about 11% since 2012, showing that there are great properties out there for decent prices.
Santa Monica real estate experts are ready and waiting to help you upgrade to a bigger and better home. Get your current home ready to sell and then start shopping the Santa Monica real estate market to find the new home of your dreams.