Manhattan is back and real estate transactions have exceeded those of the same period in 2020. Properties for sale in March of 2021 were the highest numbers in a month since 2007. And you would think bargain shoppers are on the move, but the sales price has actually increased compared to the first quarter of last year. This trend is predicted to accelerate even more in the upcoming months when the annual buying season starts. And that coupled with more people getting vaccinated and the city recovering from the pandemic will result in the perfect time to sell your property.
Buyers that are still considering buying a home in Manhattan will find new listings and inventory throughout the year. And if you are looking to sell, there is no better time. However, is your home ready for the market?
More than 80% of buyer’s agents said staging a home made it easier for a buyer to visualize the property as their future home. Home buyers are more sophisticated than ever and traditional home staging that creates neutralized staging do not pull the buyer in as much anymore. Such a large purchase is driven by emotion. Studying and targeting the right pool of buyers is extremely important. Targeting your demographic and creating a story in the home you stage has proven to be more effective. Working with the real estate agent, professional home stagers must create a strategy when selecting the furniture, artwork, lighting and the right decoration that translates into the lifestyle that can inspire and connect with the prospective buyer.
Source: NAR, New York Post.