One of the most common myths we hear is “We want to wait to move until the spring when more people are looking”. In theory, it sounds like that would be the best idea, more buyers shopping = selling your house faster, right? Wrong. There are several reasons why the “spring market”, especially in the middle of more uncertain market conditions, isn’t your best option. Here’s why-

 

1. Less competition: The spring market is traditionally the busiest time for home sales, which means there will be more competition for buyers. By listing your home before the spring rush, you can potentially attract more buyers who are looking to move now and make a purchase before the market gets too crowded. EVERYONE wants their grass green and things looking lovely outside but during a time when buyers are desperate for inventory beating the market will outweigh a fresh lawn every time!\
2. More motivated buyers: Buyers who are looking to purchase a home in the winter months are typically more motivated. They may have a stronger driving force to move than casually looking come spring and the end of the school year, which means they are more likely to make a quick decision and submit a strong offer!
3. Faster sales process: With less competition and more motivated buyers, the sales process can often move more quickly during the winter months. This can be especially beneficial if you need to sell your home quickly, for example, if you have already purchased another home or need to relocate. Other professionals are typically less busy. Lenders, attorneys, and inspectors are going to be able to make your purchase a priority!
4. Better pricing: If you wait until the spring market to list your home, you may have to price it more competitively to attract buyers since there will be more competition. By listing your home in the winter, you may be able to set a higher asking price and negotiate a better deal, especially due to limited inventory in our area.
5. Think about the data: Spring market numbers are often driven by strong May and June sales numbers. Let’s think about that for a minute.  Typically closings in our area are taking 30-60 days so those homes that make the market look so great that time of year are actually happening in March and April (which means those buyers likely started looking in Jan/Feb (hint hint….now)

 

Of course, there are always exceptions to the rule, and market conditions can vary depending on your location and the specific features of your property. Chat with our Listing Specialists (who happen to be the best in the market) to determine the best timing and strategy for selling your home.