This post is sponsored and contributed by Mary Tunny Weichert, a Patch Brand Partner.

Community Corner

Fall 2020 Is an Ideal Time to Sell Your Home

Vigorous demand for homes and low interest rates favor today's sellers.

Mary Tunny Weichert, Brand Partner
Buyers from urban areas are as eager as ever 
 to tuck into a home in the suburbs this fall.
Buyers from urban areas are as eager as ever 
 to tuck into a home in the suburbs this fall.

This post is sponsored and contributed by a Patch Community Partner. The views expressed in this post are the author's own, and the information presented has not been verified by Patch.

If you’re like many of us, you have put certain things on hold after the events of last March. Homeowners, in particular, who had planned to sell a home in the spring market were understandably cautious. In addition to waiting to learn more about preventing spread of COVID-19, they waited to see how the real estate and financial markets would unfold.

The good news is that positive local employment statistics and recovering financial markets have enabled many urban home buyers to purchase homes in the suburbs. In addition, safety measures that include wearing masks, avoiding or sterilizing common-touch surfaces, and social distancing have made in-person showings safe for sellers, buyers, and realtors.

Find out what's happening in Chathamfor free with the latest updates from Patch.

Recent Real Estate Facts Suggest Favorable Fall Predictions
Despite dire predictions and a brief 3-week March-into-early-April lull in the real estate market, spring and summer 2020 have ended up being exceptionally busy. In New Jersey towns located along the midtown direct train line, for example, home sales have been extraordinarily active compared with previous spring and summer real estate markets.

According to Kiplinger’s August 28, 2020, Real Estate Forecast:

Find out what's happening in Chathamfor free with the latest updates from Patch.

  • Existing home sales surged to 24.7 % in July 2020
  • Existing home sales are up a total 8.7 % compared with a year ago,
  • with sharp increases across all regions
  • New home sales have surpassed prerecession levels and are now at their highest
  • (13.9 %) since 2006
  • Housing starts rose 22.6 % in July, with total housing starts up 23.4 %
  • compared with a year ago
    • Sales of not-yet-constructed homes account for 29 % of total new homes sales (up from 25 % in June)

Thinking about listing your home? Now may be the perfect time!
If you have been waiting to sell your home, this may be the best time to list. Kiplinger’s data suggest that low housing inventory, ever-increasing demand from home buyers, and low mortgage rates have created a robust seller’s market.

In what is the busiest real estate market I have experienced since 2005, sellers are enjoying quick sales at or above asking price. Data suggest this trend will continue through fall 2020, and into the spring / summer 2021 market.

Upsizers and Downsizers Can Capitalize on the Fall Real Estate Market
Current real estate (minimal) supply and (great) demand means homeowners who have considered leveraging equity for a bigger home are in a favorable position. On the other hand, downsizers who wish to simplify their lifestyles also are in a terrific position to achieve their goals.

With few homes for sale this fall, sellers are benefiting from selling their homes
in record time at record prices.
— National Association of Realtors Chief Economist Lawrence Yun

Recent stay-at-home trends mean buyers want options that allow them to work from home while still being near the benefits to which they are accustomed. For this reason, today’s local home values depend on accessibility to New York City, outstanding schools, and a wide range of community activities and offerings.

Chatham and its surrounding New Jersey hipsturbias
 offer everything home buyers want!

In addition to more space inside and outside their homes, today’s home buyers want:

If your current home doesn’t meet your needs, let’s talk. I can tell you what your home is worth and guide you to options that will better satisfy your goals. If you live in Chatham, Madison, Morristown, Summit, or another of New Jersey’s hipsturbias, your home offers an extraordinary lifestyle for people who love urban amenities mixed with the tranquility and conveniences of suburban living.

If you want to purchase a home in Chatham or in one of our neighboring towns, I will gladly arrange in-person or virtual showings that allow you to explore the choices. I also will keep you abreast of homes as they become available.

As a life-long resident of Chatham, I also can answer questions about the area. Click here to read about the areas I serve.

Call or email me today at 201-532-0788
maryweichert@weichert.com.

This is a sponsored post contributed by a Patch Community Partner, a local sponsor. To learn more, click here.

This post is sponsored and contributed by Mary Tunny Weichert, a Patch Brand Partner.

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