Connecticut is among the many states seeing a high demand for housing and an inventory that cannot keep up. For those houses that are available, it's very competitive.
In May of 2023, there were about 3,100 condos and homes for sale in Connecticut compared to the 22,000 homes listed before 2020. But much of this can be attributed to the white-hot market that was seen from 2020-2022. The rise in mortgage interest rates also affects the current market. The positive of luxury real estate is that they are not as affected by the ever-changing rates because many pay in cash or they have more flexibility.
The high demand comes from those who already call Connecticut home but also those from the New York area who are looking for a quieter atmosphere still near their New York jobs. With Connecticut's mix of country and city options, nationally rated schools, and the gift of experiencing all four seasons, it's unsurprising that more people are being drawn to the nutmeg state. For buyers, this makes finding your dream home a bit harder. For sellers, you may need to navigate through bidding wars and negotiations. Hiring a Connecticut Realtor is a vital piece of your selling journey.
They will make sure that your home is priced to sell
They will walk you through negotiations and counteroffers
Your Connecticut real estate agent can help you to come up with a negotiation plan before any offers are made. They will make sure to listen to your opinion while advising you on the most practical routes to take. This is a big reason why communication is so important.
Counteroffers typically revolve around sales price, asking for assistance with closing costs, closing date, or earnest money deposit. Your local Realtor can help you figure out what is worth negotiating for and when to walk away.
They know how the business works
When selling homes in Connecticut, the weather is something that has to be considered. Selling in the winter months can cause you to lose out on money, and selling in the summer can get you more. If you have a single-family home, your most attractive buyers might be those with children, and they begin their search for a new home in the spring to move in the summer.
Experienced agents can tell you which offers are worth entertaining. Also, they will be able to help you stay calm if your home is on the market longer than you expected. Luxury housing can stay on the market a bit longer because of the small pool buyers have to choose from, they want to make the right choice.
If you're looking to sell your home fast in CT, you can communicate when you need to sell, and your agent can work on making that happen. By setting hard deadlines and offering the right incentives, your Realtor can help you attract quick buyers.
They can help you to prepare your home for sale
Using high-quality photographs and videos is important, especially when wanting to showcase unique features. This will bring more buyers in, especially those who are looking for the specific amenities that your home has.
With a Realtor, they will know what these buyers are going to be looking for most. They might not care as much about one amenity, but another might be something they must have. For instance, many luxury homebuyers want to have privacy, a private gym, a wine cellar, and an outdoor space where they can entertain and cook.
They will handle all the complexities
For instance, in some states, it's up to the seller whether or not they want to have a real estate attorney to help with things. In Connecticut, that is mandatory. They need to be the ones to verify the title and make sure there are no liens against the home. Additionally, you want to make sure that you disclose all of the potential issues with your home when selling, or the buyer might be entitled to credit off of the sale price.
When budgeting the cost of selling your home, be sure to include the cost of Connecticut's transfer tax, also known as the Conveyance Tax, which is required for any transfer of real estate property, and for those selling a home over $800,000, the tax is 1.25%.
While this might seem overwhelming, many states have similar laws and tax regulations, and when using a Connecticut Realtor, they will make sure that the paperwork is done correctly and that you're following all the laws as it's part of their job to keep up with them. This can take a huge piece of stress off you as the seller so you can focus on other aspects of the process.
Ready to sell?
Sell Save Move will use their years of experience and knowledge of the market to help you succeed in the process of selling your home. By providing your home with global exposure, utilizing the buzz of social media, making sure your home presents a premium first impression to buyers, and allowing clients to choose their commission, you'll be able to sell your home fast, for the right price, and stress-free. Contact Sell Save Move today!