According to many real estate experts, home prices are about to hit their peak – and if you wait to sell, you might miss out on profits. Here’s what you need to know about selling in April, May and June 2022.
Why NOW is the Perfect Time to Sell Your Home in Naples
In April, about 12 percent of home-sellers dropped their home’s asking price – and when compared to last year at this time, when 9 percent dropped, it suggests that home sales prices may be about to hit their peak before making their way back down. This, coupled with the fact that new listings are increasing (they’re up 8 percent over last year and the year before), means that sellers are likely to start facing more competition on the housing market than they have in recent months.
Add to that increasing mortgage rates and you have all the signs that home prices are going to be at their highest within the next few months. And if you wait to sell, you may miss out.
How Rare Are Price-Drops?
Price-drops – that is, when a seller decides to lower the asking price for their home – are still fairly rare, with only a little more than one in ten sellers choosing to do so. However, you have to take into account the reasons sellers lower their prices. Sometimes:
- No buyers are making offers at the current price
- Mortgage rates are increasing, so sellers want to get ahead of lenders and ensure that buyers can afford their homes
- The home was priced too high to begin with, and buyers find more value in homes that are properly priced
- Something is wrong with the home that would cost a buyer a significant amount of money to fix
Why Do Price Drops Indicate a New Trend?
Individual price-drops are typically no big deal; people lower the prices on their homes for various reasons. However, when many sellers are doing it at the same time, it’s a signal that buyers are tapped out and can’t afford to purchase a home in that price range.
Will the Market Be Full of Homes This Summer?
Historically, new listings peak in May – and it looks like that will be the case again this year. When the market is flooded with new listings, buyers have more to choose from; it’s considered a buyer’s market. Buyers have a slight advantage because they aren’t pressed to take what’s available, and they often feel freer to negotiate with sellers in this type of market. (Conversely, when there are more buyers than there are real estate listings, it’s considered a seller’s market. In a seller’s market, sellers generally have an advantage because there are only a handful of homes available to buyers, and they’re all competing to submit winning offers.)
Related: 3 signs it’s time to sell your home
Although there’s still a shortage of housing available, the gap is quickly closing between sellers putting their homes on the market and buyers who want to purchase them. The tide may be very close to turning, which means if you sell now, you can still take advantage of record-high housing prices and mortgage rates at their current level.
Are You Buying or Selling a Home in Naples?
Selling your home is a big deal, so you need to work with a REALTOR® who can get it right. We know how to market your home to all the right buyers, regardless of its price point. We’ll help you sell your home quickly and at the best possible price!
If you’re looking for a home for sale in Naples, we’re here to help. We specialize in luxury real estate and can show you any listing. In the meantime, please feel free to explore what’s available now:
- Pelican Bay homes for sale
- Homes for sale in 34102
- Homes for sale in gated communities in Naples
- Golf course homes for sale in Naples
- Aqualane Shores luxury homes for sale
- Old Naples homes for sale
- Homes for sale in Talis Park, Naples
- Park Shore (Naples) homes for sale
- Homes for sale in Moorings
- Condos for sale in Moorings
- Coquina Sands homes for sale
- Tiburon homes for sale
- Grey Oaks homes for sale
- Pine Ridge homes for sale
- Homes for sale in Pelican Marsh
You can also browse all Naples homes for sale.
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