Realtor.com Survey Finds 81% of Potential Sellers Think They Will Get Their Asking Price or More This Year 

Sellers across the U.S. are optimistic heading into this year’s Best Time to Sell with 70% of potential sellers thinking it is a good time to sell, according to a new survey from Realtor.com® out today. Although market conditions are not a driver of the decision, today’s sellers are optimistic about selling this year because of their ability to take advantage of the increased value of homes and an expectation that buyer-offers will meet their asking price. 

“Spring is historically the best time to sell, and this year, sellers are entering the season with high expectations,” said Laura Eddy, vice president of Research and Insights at Realtor.com®. “Our survey found that many potential sellers feel confident they’ll not only sell quickly but also receive top dollar for their home. Despite their optimism, our survey suggests that potential sellers–especially those who have been waiting to sell for a year or more, still feel locked in due to interest rates.” 

A majority, 79%, of potential sellers are considering selling out of necessity, including the need for more or less space, for family, life events, work, or because they can no longer afford their home. Some 34% need more space, 25% need to downsize, 21% need to move for family, 18% for a life event, including marriage, kids or divorce, 15% need to move for work including return to office or new job, and 10% can no longer afford their current home. However, the top reason for selling was all about location, with 46% selling to find a different community. 

Potential sellers think it’s a good time to sell and are taking steps to sell
Potential sellers are optimistic about the selling process, with 81% thinking they’ll get their asking price or more, 75% thinking it will take the average time or shorter than usual to sell, and 63% thinking they won’t have to make significant or unexpected concessions. 

Nearly every potential seller (96%) has done something to begin preparing for a home sale. The most common steps have been in the research phase, with 71% of potential sellers checking the value of their home and 61% researching prices in their neighborhood. 

One in three potential sellers (38%) has made some type of home improvement to prep their home for sale. The most common renovations include light renovations such as repainting, updating fixtures and light landscaping, and were completed by 70% of those who did home improvements. Nearly two-thirds, 65%, of potential sellers who did renovations fixed things that might be an issue on an inspection, and more than half (59%) completed a major renovation such as redoing a kitchen or bath. 

Six out of 10 potential sellers have taken actionable and concrete steps to start the listing process. The most common step has been to contact a real estate agent (36%), followed by completing an inspection on the home being sold (27%), and listing a home for sale (22%). 

“With the best time to sell approaching, sellers are optimistic and with a still-sizable nationwide housing shortage, there’s good reason to be,” said Hannah Jones, senior economic research analyst at Realtor.com®.  “Our research shows that the housing supply gap would take 7.5 years to close nationwide and much longer in some regions. At the same time, we’ve seen pronounced shifts in financial markets as the economy adjusts to new policies. It’s always a good idea to work with an expert, and this is even more true at a time when housing markets are evolving to reflect broader economic conditions.”