To Sell or Not To Sell?

Spring is fast approaching and you’re troubled whether you’ll put that home of yours on the listing along with other Dallas properties or wait until the inventory is as scorching as the summer sun? Let’s look at the two sides of that Dime, shall we?

If we are to base on the current market trends, there is an increase of +13.2%  in the median of asking price per unit for multifamily Dallas properties compared to that of January, 2014 and a decrease of  -14.3% compared to prices of the previous year. There is also a considerable increase in sale prices due to a noted drop in the current inventory compared to previous months and even the previous years to say the least. Consequently, if there are a lot of potential buyers but a few properties out for sale, prices will shoot up. The least amount of property in the market guarantees less competition and a faster sale at the best and highest price possible. And to say the least, you, have the upper hand in the pricing game. It’s Supply and Demand 101. 

“This is definitely a seller’s market,” says Jeff Duffey, of Jeff Duffey & Associates, in Dallas. “In the best neighborhoods, if a seller isn’t getting multiple offers in their first four or five days on the market, they are either obscenely overpriced, or their house wasn’t in condition to show well. In this market, there’s no reason right now your home shouldn’t sell within a week.”  - The Hottest Dallas Housing Market Ever by Joseph Guinto, D Magazine July 2013

Technically, if we will be considering the financial and business perspective of your option, it’s definitely an opportune time to decide on the matter. However, if you have matters that you are still considering such as conjugal considerations, family issues, or plainly indecisiveness, well, there may just be a couple of setbacks: a not so solid assurance that it will be sold the soonest that you expect it to be and for it to be sold with the price you will tag it to be. Of course, that will still depend on the time of the year and the existing inventory of properties at the time of purchase. With Dallas properties, you can never go wrong but the market will always be a roller coaster ride…it’s not what you play with but how you play it well.

Selling your home is not an easy task but it would definitely and absolutely be an advantage to consult a professional so that you’ll be able to appreciate your decision to let go of a treasure.