As we progress through 2024, the real estate market continues to evolve, and homeowners have various reasons for selling their properties. A recent survey from Realtor.com delves into these motivations, revealing that the top two reasons are to make a profit and for family-related purposes.
Let’s explore these findings in more detail and see why now might be the perfect time for you to sell your home.
1. To Make a Profit
Significant Returns on Investment
One of the primary reasons homeowners are choosing to sell is to capitalize on the substantial profits available in today’s market. The latest data from 2023 shows that the typical seller earned a $121,000 profit, translating to an impressive 56.5% return on investment. This surge in profits can be attributed to the strong seller’s market we witnessed during the pandemic, characterized by high demand and limited inventory, which pushed home prices to new heights.
A Seller’s Market Advantage
In a seller’s market, properties often sell quickly and at higher prices, providing homeowners with an excellent opportunity to maximize their returns. If you’ve been considering selling your home, now is an opportune time to take advantage of these favorable market conditions.
2. For Family Reasons
Moving Closer to Loved Ones
Family is another significant factor motivating homeowners to sell their properties. Many individuals and families are looking to move closer to their loved ones, whether it’s to assist aging family members, be present for important life events, or simply to enjoy a closer-knit family environment.
Enhancing Quality of Life
Relocating to be near family can greatly enhance your quality of life, providing emotional support, shared experiences, and the comfort of having loved ones nearby. For many, these family connections are priceless, making the decision to sell and move an easy one.
Is It Time for You to Sell?
Whether your goal is to make a significant profit or to move closer to family, selling your home can be a rewarding decision. As your local real estate agents, we are here to guide you through the process, ensuring you achieve your goals and enjoy a smooth transaction.
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DM us today to get started on your home selling journey! @SHEA PREFERRED REALTY GROUP
