Top 6 Reasons to Sell Your Tulsa Home in 2018
The year of 2018 is here, and with it comes a plethora of new home trends, and by trends, we mean changes in the housing market that could affect potential home buyers and potential home sellers. If you have been on the fence about putting your Tulsa home up for sale, 2018 may be the perfect year to finally list it on the market.
Selling a Tulsa Home
The Tulsa market is changing and expanding, so when making the decision to list your home, finding a trustworthy advocate remains essential. A McGraw REALTOR® knows the market, its trends, and what to expect when listing your home, but it’s also important to have an understanding of the market for yourself.
While a REALTOR® will help you decide when selling may be right for you, here are 6 reasons to consider selling your home this year.
- Buyers Are Eager
The number of homebuyers has increased over the past few years. Due to the rise in millennials switching from renting to home ownership, millennials are leading the charge in home buying. And they are eager to get into a home. A lack of homes on the market fuels a buyer’s desire to move into a quality home quickly.
No matter your home price, it has a market. Millennials are beginning to expand from starter home prices to higher ranges. While they currently dominate the starter home market, they are working their way into mid-range and higher priced homes — meaning homes of all values have potential buyers. The oldest millennials are turning 37 this year. And millennials aren’t the only buyers on the market. Eager buyers await.
- Inventory Shortage
Coupled with eager buyers and millennials leading the charge in home purchases is the lack of home inventory in homes under $300K. The fact that homes are in a shortage remains a major bonus for potential home sellers. Putting your home up for sale means adding a great product to a lacking market.
Take note that in light of the shortage of homes under $300K, the number of homes on the market is expected to increase in 2018. Get ahead of the trend by listing your house while homes are in demand. A great REALTOR® can help you get started and keep you ahead of other home sellers.
- Rising Home Prices
Tulsa home prices are on the rise. According to Forbes, national home prices, which have steadily increase for the past two years, will continue to do so, although this price incline is expected to be less than past years. Tulsa seems to be following that same trend. Home prices steadily increased for Tulsa sellers in 2017, and this price growth is expected to continue increasing but at a slower rate in 2018.
The slow increase in Tulsa home prices is largely due to the inventory shortage of homes. With enthusiastic homeowners and a lack of available homes, the timing could not be better for getting top dollar on your home. Putting your home on the market as quickly as possible can help maximize profit by getting your product in front of eager homebuyers before the number of houses on the market increases.
Pricing remains the key element to selling your home. A McGraw REALTOR® will know best how to appropriately price your home in its current state or the changes you can make to maximize your home sale. Let a REALTOR® be the advocate to get you top dollar for your listing.
- Southern Homes Are Leading the Way
According to research, Realtor.com’s 2018 National Housing Forecast predicts that southern cities will experience the highest percentage of growth in sales. Tulsa, being a major city in the southern midwest region, will help lead the way as well. In fact, according to the research and estimation, Tulsa should see the largest growth in home sales at 7.5%, while the national average will likely only reach a 2.5% sales growth.
- Low-Interest Rates
While low-interest rates won’t affect the act of selling your home, they will affect you as a new home buyer. If you’ve been desiring a move, this may be time financially to upgrade. Presently, interest prices are sitting in the low 4% range, with a Tulsa average of 4.25% for a 30-year fixed loan.
However, this number is expected to increase over the coming year. Make the move while you can lock in a low-interest rate for your future property.
- Property Taxes
Taxes deductions will be changing for homeowners who file in 2019. With the tax reforms of 2017, homeowners will experience a limit of $10,000 for property tax deductions. Homeowners with high property taxes will notice the greatest change filing in 2019.
If you live in a county with higher tax rates, this may be a great time to list your property and move to a region with lower property tax.
A REALTOR® Makes All the Difference
The right REALTOR® makes all the difference when it comes time to sell your house in a timely manner and for top dollar. Trained REALTORS® act as advisors and advocates to get you the best price for your home. So, don’t just hire any REALTOR®, look for a Tulsa real estate company you can trust.
We, at McGraw REALTORS®, are one of the top Tulsa real estate companies. We have over 80 years of resources and connections to the Tulsa area, meaning we know and understand the market. Trusting us with your home isn’t just trusting your home to any REALTOR®. It’s trusting the sale of your home to a knowledgeable and resourceful advocate who will work diligently to make your home sale all you need it to be.
Get Started Today
You can sell your home with confidence. A McGraw REALTOR® will give you the assurance you need to make the transition. Call 918-592-6000 to schedule a free, no-obligation consultationtoday. We look forward to hearing from you.