Upsizing from a Condo to a Detached Home? You’re Timing May be Perfect!

Considering upsizing from a condo to a detached home? Your timing may be great and here’s why.

The condo market has stayed fairly consistent throughout this year with the number of condos on the market and selling prices remaining high. On the other hand, the detached home market has seen a flood of new listings hit the market and prices have come down from where they were in the first quarter.

There are sellers that purchased their next home a couple of months ago in a very different market.  They now have to sell their home in a market with lots more inventory on the market and fewer buyers interested in snatching up their next home. These sellers may be a bit anxious to get their home sold and that’s where the opportunity may be for you.

Here’s a couple of ways to spot those sellers that may be a bit desperate and willing to sell at an attractive price point

1. The home has had multiple price decreases over the last month.
2. It’s been on the market for more than 20 days
3. The possession date of the home is a specific date
4. The listing agent is offering a bonus to agents to bring in offers

If you’re looking for one of these deals upsizing from a condo, The ThompsonSells Team would love to help.  You can reach us here.