Want to Make a Killing on Your Home? Now’s the Time to Sell

A couple holds a "Sold" sign in front of their home
Photo by michaeljung / Shutterstock.com

To say it’s a seller’s market would be an understatement.

Now might be the best time in years to sell your home, thanks to a combination of swelling prices and sales fueled by demand.

In March, existing-home sales increased by 4.4 percent, according to the National Association of Realtors’ latest monthly statistics. That made March the strongest month of existing-home sales since February 2007.

The median price for existing homes in March was $236,400. That reflects a 6.8 percent increase from one year earlier — and marks the 61st consecutive month of year-over-year increases.

Lawrence Yun, National Association of Realtors chief economist, notes:

“Bolstered by strong consumer confidence and underlying demand, home sales are up convincingly from a year ago nationally and in all four major regions despite the fact that buying a home has gotten more expensive over the past year.”

Yun predicts that sales will go up as long as housing inventory goes up.

David Fogg, a real estate agent with Keller Williams in Burbank, California, tells CNBC:

“I’ve been selling real estate for 25 years and this is the strongest seller’s market I have ever seen in my entire real estate career. A lot of our sellers are optimistically pricing their homes in today’s market, and I have to say in most cases we’re getting the home sold anyway.”

Demand is so great that, even in spite of high prices, buyer bidding wars have become par for the course, CNBC reports.

How to cut costs when selling your home

Just because you might make a small fortune selling your house these days, though, doesn’t mean you should accept a real estate agent’s fees at face value.

As we explain further in “How to Save Thousands When Selling Your Home,” shortages of homes for sale as well as technology can help you reduce the high commissions that real estate agents traditionally charge. One survey found that sellers saved an average of about $3,700.

Of course, no matter what the housing market currently looks like, potential home sellers can almost always boost their profit by investing a little time or money into their home before showing it. For help with that, check out:

What do you make of rising home prices and sales? Share your thoughts below or on Facebook.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
3 Costly Social Security Mistakes That Women Make
3 Costly Social Security Mistakes That Women Make

Women face unique challenges when planning for retirement and making these mistakes can result in a skimpier retirement.

7 Secret Departments of Amazon You Should Know About
7 Secret Departments of Amazon You Should Know About

These little-known sections of Amazon are hidden gems for deal-seekers and impulse shoppers alike.

8 Things I Always Buy at Target
8 Things I Always Buy at Target

I grew up shopping at the original Target store and am a lifelong fan. Here are my favorite purchases.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started


Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories