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Are you considering putting your home on the market? 2017 is turning out to be a great year for home sellers.
Homeowners who sold in the first quarter of 2017 made an average 24 percent return on the purchase price of their home — an impressive average price gain of $44,000, according to a new report from property data company Attom Data Solutions.
Those gains made last quarter the most profitable time to sell your home in nearly a decade. Still, Attom Data Solutions says homeowners are staying in their homes longer than before. Daren Blomquist, Attom’s senior vice president, says in a press release:
“This counterintuitive combination is in part the result of the low inventory of move-up homes available for current homeowners, while also perpetuating the scarcity of starter homes available for first-time homebuyers.”
These are the 10 most profitable housing markets for home sellers in the U.S., according to a Credit.com roundup of Attom’s findings:
- San Jose-Sunnyvale-Santa Clara, California — Average return on investment: 71 percent
- San Francisco-Oakland-Hayward, California — 65 percent
- Seattle-Tacoma-Bellevue, Washington — 56 percent
- Portland-Vancouver-Hillsboro, Oregon/Washington— 52 percent
- Modesto, California — 51 percent
- Stockton-Lodi, California — 51 percent
- Los Angeles-Long Beach-Anaheim, California — 50 percent
- Denver-Aurora-Lakewood, Colorado — 50 percent
- Vallejo-Fairfield, California — 47 percent
- Salem, Oregon — 46 percent
How to sell your home right
Swelling home prices and increased buyer demand make now a great time to sell your home.
But you might be able to further boost your potential home-selling profits by negotiating lower fees with your real estate agent. You just need to ask.
“Despite the perception that 6 percent is the standard fee, agents can and do negotiate,” Marilyn Lewis writes in “How to Save Thousands When Selling Your Home.”
But remember to be realistic and respectful when asking an agent to drop their fee. Lewis explains:
It’s not reasonable to ask a full-service agent to drop her fee to the level of, say, a discount brokerage like Redfin. If you can negotiate a discount of one entire percentage point, you’ve done great.
For more tips on boosting your profitability when selling your home, check out:
- “Home Selling 101: 17 Tips for Creating Maximum Curb Appeal”
- “11 Staging Tips to Help You Get Top Dollar When Selling Your Home“
- “10 Home Upgrades With the Best Return for Your Money“
Do you have plans to put your house on the market this year? Share your thoughts below or on Facebook.