As the pandemic slows and life returns to normal, you might be ready to sell your home. You aren’t the only one.
Many sellers chose to stay put and hang onto their houses while most of life felt so uncertain, but the number of listings are likely to increase as summer approaches. The ever-changing market may lead you to wonder, is it hard to sell your home in Dallas, Texas? Here’s what you need to know.
COVID-19’s Impact on Dallas Real Estate
Pre-pandemic, the housing market in Dallas was dragging. Dallas News reported that the average time to sell a house in December 2019 was nearly two months – that’s 20% higher than it had been in prior years. A slow market in the winter isn’t unexpected, though, and typically market analysts would expect the market to pick up in the spring and summer.
But nobody could foresee the havoc that the coronavirus would have on real estate. The housing market has been unpredictable at best since the virus began shutting down the economy. Home sales all but stopped, causing interest rates to plummet. In turn, the low rates attracted many buyers but inventory was low, so prices shot upwards all across the nation. Houses were suddenly flying off the market, oftentimes receiving multiple offers within the first few days of listing.
Between the weather warming up and the spread of the virus being controlled, the number of houses on the market is likely to increase. And, like the law of supply and demand dictates, the average number of days-on-market for houses will increase. In short, it will be more difficult and take more time to sell your home in Dallas than it has been in months past.
Traditional Home Sales
Pandemic aside, selling your home is a very involved process. A traditional home sale looks something like this:
- Find a real estate agent who knows the market
- Decide on a timeline for selling your house
- Prepare your home for selling
- Get professional listing photos
- Set a list price
- Put your house on the market
- Advertise and market your house to potential buyers
- Host an open house
- Field offers and negotiate
- Accept an offer
- Gather documents to close
- Sign on the sale and pay the applicable commissions and fees
If that seems like a lot of steps, that’s because it is. Selling a house the traditional way isn’t easy, and it can take several months from start to finish. It’s a good option for sellers who have plenty of time and a house in a great area that will sell for top dollar, but it’s not right for everybody.
Joe Homebuyer Dallas is Here
Are you ready to sell your home, but a traditional home sale isn’t the right fit? Maybe your house isn’t in great shape or is in a rough area. Maybe you’re short on time and are anxious to sell your house fast. Joe Homebuyer Dallas is here to help! We buy homes in Dallas, Texas, and the surrounding areas for cash! Any condition, any area, any day you choose. Contact us today for your cash offer!