Edmonton Spring 2023

Selling a house in Edmonton - 3
Considerations
Selling a house in Edmonton right now can be challenging due to the
increasing interest rates. As an owner, it is important to understand
the market and how these higher rates can affect your sale.
Higher interest rates can be a boon.
Higher interest rates can be a boon. When buyers are able to secure
a mortgage at an attractive rate, they're more likely to purchase the
home. This helps homeowners who are in need of quick liquidity as
they can find willing buyers and close the deal quickly. Higher interest
rates also tend to drive up real estate prices, making it easier for
sellers to obtain a good price for their property.
Inventory
The amount of inventory in the Edmonton real estate market has
also been decreasing recently, which could help you as a seller
should you decide to list right now. Less inventory means that potential
buyers are more likely to take notice of your property and put
in an offer. Going into winter, housing inventory usually drops even
further so listing now might prove beneficial when it comes time to
sell your home.
Despite these advantages, there are still certain risks associated with
selling while interest rates are high. One risk is that you may need to
lower your asking price in order to move quickly on the sale of your
home - something many homeowners aren’t always prepared for or
willing to do.
Risk
Additionally, if you don’t consider other factors such as local economic
conditions or housing trends, you could end up selling for a
lower overall price regardless of whether or not it happens quickly.
All things considered, selling a house in Edmonton right now with
higher interest rates is risky but could benefit some sellers depending
on their individual circumstances and goals for their sale. If you’re
considering listing during this time, talk with a real estate professional
who can provide insight into current market conditions and
walk through all available options so that you can make an informed
decision about when and how best to move forward with selling your
home.
Tim Grover
Edmonton Real Estate Team is your one-stop source for all your real
estate needs! With expert advice, we are the perfect partner to help
you find or sell a home. Call us at 780-288-5144 and let us help you
make smart and informed decisions about your future today.
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