Have you been contemplating the timing of selling your home in the Fall/Winter months of November or December but were too skiddish to think there really are buyers out there during this time of year? Fear not! Relocation buyers often use the year-end time-frame to make their move, re-settle their family and start fresh. Also, any “serious” buyer who has been looking for that “just-right-house” will jump on a perfect home, even during November & December. These will always be the most serious buyers during the year. Problem is, they often don’t have the volume of inventory (homes) to choose from.
So, ever wonder what your odds of selling in the late Fall/Holiday season are? Consider this…if the prime buying & selling months were Feb-July with an average months supply of inventory equal to 4.2 (based on the current inventory, it would take 4.2 months to sell it all), the chances of a quality home, priced competitively would increase during the Fall/Holiday. How so? Demand. Demand will still be there, but inventory drops sometimes by 50% or more. So, if inventory drops in half, the 4.2 months supply now turns into 2.1, thus increasing the odds of selling in the first month by 50%.
The one main controllable factor a seller has is the selling price. The one uncontrollable factor out there is “perceived value” on the part of any buyer. In order for any home to sell, it will have to be perceived as a good value. These are the 5 main pieces to determining a good value in a home:
- Size (house & lot)
A seller mainly has control of Price, and to some extent Features/Amenities/Upgrades & Condition. Knowing what you now know, would you list your home in November or December?