The first three quarters of the 2021 offered plenty of opportunities for homeowners looking to sell their property. While the United States real estate market was mostly a seller’s market – meaning there were more buyers than houses available – some states and cities were the exception and remained a buyer’s market. One of these areas is the city of Spartanburg in South Carolina.

Housing trends for Spartanburg, SC show that properties in the area are likely to remain in a buyer’s market for the rest of 2021. This means that it might not be in your best interests to list your property in the real estate market if you’re looking to sell for the best price. Here’s what homeowners looking to sell should know about real estate trends in Spartanburg for Q4 and why selling your home to a cash homebuyer may be the better option than listing your home.

Spartanburg To Remain A Buyer’s Market

Those looking to sell their home may not be aware of the differences between a seller’s market and a buyer’s market. If your goal is selling your house fast and getting the best price out of it, how and when you sell plays a crucial role.

A seller’s market is when there are so many buyers in the real estate market but not enough houses to meet the demand. That means multiple buyers will be competing to give the best offer for properties in the market, which can lead to a bidding war. This is great for the seller (the homeowner) because it’s become a common practice for buyers to offer way more than the homeowner’s asking price in an attempt to outbid other buyers in the market.

A buyer’s market, on the other hand, is the opposite. Either there are not that many buyers or there are too many properties in the market, so the ball is now in the buyer’s court and they can have their pick of properties without the intense competition. As a seller, rather than having a bidding war in your hands, you’ll be faced with buyers trying to negotiate for a lower price.

Realtor.com found that Spartanburg, SC is currently a buyer’s market. They found that homeowners that were selling their properties were receiving offers that are roughly the same amount as the asking price. While it’s not as bad as other states and cities where homeowners are selling their homes for less than the asking price, it’s highly unlikely to expect a bidding war for your property.

What This Means When You List Your Home

Most homeowners sell their home by listing their property on the market. But what does this mean if you’re selling in a buyer’s market like Spartanburg, SC?

For starters, it means you shouldn’t expect a bidding war for your property. Unless you have a choice property that’s in a good location, you’re unlikely to get more than your asking price. In fact, you or your real estate agent are more likely to get into a negotiating war with a potential buyer and their agent. After all, buyers have their pick of the market, so you’re at a disadvantage.

The buyer’s market also puts you at a disadvantage if you’re looking to sell your home fast. If you’re in a rush to sell your home, some buyers may offer to buy the property – but with a significant cut. The median sale price in the area is $208,100, but now buyers have the advantage to try to lower the price. If you decline this offer, a buyer can simply find a more competitively priced property in your market, and you’re back to square one.

This is why many sellers (especially those with reasons to sell fast such as bankruptcy, divorce, relocation, and more) will find it difficult to sell in a buyer’s market. This is why housing trends in Spartanburg, SC show that it takes a property around 48 days on the market.

Sell Your Property!

If you’re in a rush to sell your property in Spartanburg, SC within Q4 of 2021, these real estate trends may not seem favorable. Fortunately, listing your property on the real estate market is not the only way to sell your home.

Professional homebuyers like Sell My House Fast GSAP allow you to sell your home fast for a fair price, minus the additional costs, commissions, and expenses associated with listing your property. Those who want to sell their house fast can skip the 48-day average wait on the market and have a homebuyer provide a fair cash offer within 24 hours after a property viewing. This is much faster for a number of reasons:

• We buy houses in Spartanburg, SC as-is, removing the need to repair, renovate, and stage a home.
• Unlike real estate agents that sell your home to others, professional homebuyers buy your home directly.
• Professional homebuyers pay you with their own cash, which means they do not need to apply for a loan and wait for loan approval.

On top of the speedy process, homebuyers offer a fair cash price with no hidden costs or additional fees. You can get the most value out of your home.

Conclusion

While many real estate markets in the United States offer an advantage for homeowners, unfortunately, this isn’t the best market for homeowners in Spartanburg, SC to list their properties. If you want a fair offer and want to avoid buyer’s haggling your home’s price due to your rush to sell, you’re better off selling to a professional homebuyer that can give you a fair cash price.

For homeowners in South Carolina, Sell My House Fast – Greenville, Spartanburg, Anderson, Pickles is your go-to professional homebuyer if you’re looking to sell your home fast. We understand the different reasons homeowners need to sell property fast, and we’re here to help.

Contact us today to schedule a property viewing.