If you are bursting at the seams in your current home and have been yearning to move up to a more luxurious home the current market could be perfectly positioned for you!
A Tale of Two Markets
It’s a Seller’s Market for homes priced under $500k…
with a supply shortage, strong prices and short market time. Many sellers in these price ranges are having the luxury of choosing among multiple offers after only a few days on the market.
But it is a Buyer’s Market for luxury homes priced over $500k…
and an even stronger Buyer’s Market for homes priced over $1M.
This means as a move-up buyer you get the best of both worlds…Â
you get to sell high and buy low! Â Even if you are selling a home over $500k and buying over $1M you still get a market advantage.
The chart above from Keeping Current Matters helps illustrate the different markets. I have always considered the market balanced between 5 and 6 months, so wrote in my numbers… either way, it is a golden opportunity.
Contact us to get together and evaluate if this would be a good time for you to move up.
