5 Reasons why NOW it's a great time to sell

 Have you thought about selling your property, but you don’t know if this is the right time?

5 Reasons why NOW it's a great time to sell 

1. There is a shortage of inventory.

According to Honolulu Board of Realtors, in July 2021, there are 1.3 months of remaining inventory for SFH (single-family houses) and 2 months of inventory for condominiums. In comparison, that number in July 2020 was 2.4 and 4.1 respectfully. 

Don't know what these numbers mean? If there are no new listings for single-family houses, there will be nothing available for sale in 1.3 months.

2. Interest rates are still low, so there are buyers who are looking to buy

30- year fixed conventional mortgage rates are below 3%. To see the current rates, click here.

3. Higher home prices 

Single-family houses and condos set new record-high median prices in July 2021 at $992,500 and $475,000, respectively. 

4. High demand 

Many houses receive multiple offers and sell for over asking price. 70% of SFH sales closed above the asking price in July 2021, vs 38% of condo sales closed above the asking price.

5. You may be paying fewer taxes if you sell in 2021

 President Biden is proposing new tax law changes that most likely will go into effect in 2022. For more information on taxes, please consult your CPA.

Want to see your property in Hawaii? Please call me at 808-783-6333 to find out how I can help!

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