Are you experiencing growing pains in your home? Too many people and not enough space for a growing family. Or maybe you are an empty nester with too much space and the empty bedrooms and silent rooms are weighing you down. Now is the time to sell your home and find a house that fits.
Tuscaloosa Housing Inventory Hits Record Lows
Think supply and demand. Currently inventory for existing homes in the Tuscaloosa housing market favors sellers who can capitalize on buyers eager to find a house that fits their dreams.
Record Low Mortgage Interest Rates
Investors, first-time home buyers, and buyers looking to move up or down-size are eager to secure record low interest rates. Think how an interest rate that fits can help secure your financial future.
The Alabama Center for Real Estate Reports August Homeowner Sales
According to the Alabama Center for Real Estate (ACRE) the numbers fit for selling your home now. ACRE is located at The University of Alabama’s Culverhouse School of Business and provides the industry with market research and insight.
- In its latest residential housing report, ACRE reports in the Tuscaloosa area, sales have increased in August 2020 by 1.4% when compared to last year.
- The median sales price increased by 17.4% ($211,250) from a year ago ($179,900).
- The average sales price increased 33.5% over the same period from $204,286 to $270,0250.
- Tuscaloosa has higher median and average sales prices compared to the rest of the state of Alabama.
Financial and real estate experts suggest considering several factors:
- Do you have equity in your existing home that will be returned with the sale?
- Does your home no longer fit your lifestyle and you need to consider up-sizing? Now is an ideal time to take advantage of historically low mortgage interest rates.
- Or is down-sizing the right fit to maximize financial resources and expand other investment or travel opportunities?
- Have you experienced financial changes
- and are in a better position to take advantage of the historically low financing options
- or in need of the cash from the equity of your home to reduce expenses or invest in a new business opportunity?
“August’s 2.3 months of supply [homes for sale] is well below the five-year average of 4.6 months. Tuscaloosa’s inventory-to-sales ratio is 3.7 months below equilibrium, indicating a continued transition where sellers typically have slightly elevated bargaining power.”
~ The Alabama Center for Real Estate
How the Team at Carrie Fitts Real Estate Can Help You Sell Your Home
When the ideal real estate market and your desire to sell your home intersect, it’s time to connect with an elite real estate professional at Carrie Fitts Real Estate in Tuscaloosa.
Carrie Fitts Real Estate will:
1. Provide a free competitive market analysis to give you a clear understanding of your home’s value.
2. Provide a free listing consultation to discuss the market, a Comparative Market Analysis (CMA), and how it relates to the condition of your property.
3. Help you successfully navigate the sale of your home with expert support to move forward with confidence to “A House that Fitts” you!
For more information about the Tuscaloosa housing economy and consultation on selling your property, call Carrie Fitts Real Estate at (205) 248-7353 or send us a message.
We are eager to serve you and help you find the house that “Fitts” YOU!
* You can also browse houses for sale in the Tuscaloosa AL area.