Real Estate FAQs, Part 1

So I thought I’d start a series of Frequently Asked Questions in Real Estate or Real Estate FAQs as it will be known as. Since this is the first one, I’ll tackle one that is so pertinent right now.

I am asked all the time,  “when is the best time to list my home?” Answer: There is no one perfect time to go on the market.  Generally people believe the spring months are the best, but if that’s true, that’s also when housing inventory is at its highest, creating more competition for sellers.  Odds of selling in YOUR timeframe could decrease due to overwhelming supply, also causing a lesser price for you, the seller.

The summer months are the next largest inventory supply time period, traditionally.  Kids are out of school, parents have more time to concentrate on the idea of moving and often changing environments during this time is less stress on a family. Again, inventory is high, meaning competition is also high.  I have seen inventory wane in August due to vacations and families gearing towards back-to-school events.

The fall months usually show a pick-up in inventory volume, because kids are back in school and everyone’s focus can shift.

My experience has shown that Oct-Dec are uncharacteristically prime months for sellers to list and here’s why:

♦  Less inventory during these months, means less competition as a seller.

♦  Buyers who are out shopping for homes during this time frame (colder, often wet weather and holiday time) are the SERIOUS BUYERS.  They are the ones who have a distinct need to move during this time, and they want a reasonable supply of homes to choose from.  Many relocation buyers are searching now to make a year-end move.

♦  As a seller, you might think this is an inconvenient time to list my home…but maybe you too need to sell (relocating, downsizing, upgrading, and various other reasons).

So what do you think?  If a move is in your plan, does it make sense to list when you know buyers are serious and you have less inventory competition…Your thoughts?

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