Jumping headfirst into the housing market and trying to sell your home is one of the most daunting tasks any family can undertake – and that’s putting things lightly. From finding the right buyer to working out the arrangements for your new home, there’s so much to consider as you contemplate this life-changing decision.
Adding in the fact that it might not even be the right time to sell your home makes this choice even more complex. In an effort to help you make the right call for your future – and ensure that you get the most value out of your home – let’s take a moment to talk about whether or not now is a good time to put your home on the marketplace.
Gauging the Health of Jacksonville’s Housing Scene
The best place to start this discussion is by checking the pulse of Jacksonville’s housing market and gauging just how accommodating it is for prospective sellers like yourself. As the financial experts over at Trulia point out via their market research of the Northeast Florida region, there’s no denying that the local housing scene is firmly moving toward a “seller’s market.”
The big indicators that point to this upward trend include the fact that median sales price and average price per square feet are both on the rise after spiking and then dipping slightly toward the end of last year. More specifically, the median sales price for the Jacksonville area has jumped from $140,000 to $146,500 in the past year, while the average price per square feet of homes has also risen by seven percent to $90 in the same timeframe.
In other words, increased demand for housing in Jacksonville is causing pricing to trend upward again, which makes entering the market as a seller an attractive prospect in many cases.
Looking at the Bigger Picture
On the “big picture” side of this conversation, Jonathan Smoke – the chief economist for realtor.com – explains that all signs point to the rest of the country following in Jacksonville’s footsteps and 2016 being a seller’s market across the nation. In particular, Smoke points to listing during the peak selling season that usually falls between April and June as a great example of taking advantage of this timing to ensure that your home draws the most value from the market.
Going a step farther, the fact that this forecast follows up a strong 2015 – the best year for U.S. home sales in about a decade – makes it hard not to view the coming months as a golden opportunity to get your home on the market and in front of a rising number of potential buyers.
Making the Call for Your Future
At the end of the day, deciding on whether or not to part ways with your home requires sifting through far more considerations than just what kind of price this property can dictate from the local housing market. Even so, it’s nice to know that after reading over the information provided here, it’s clearly a good time to be entering the market on this side of the real estate equation if you do need to pull the trigger and sell your home in the near future.