It’s generally true that the highest level of market activity occurs in the Spring to early Summer. So why should you be ready to list your home as early as January?
- Less Competition. Most sellers will be targeting April, May or later to have their homes ready and listed for sale. Unless your home will be the best of the many homes hitting the market in the Spring, you want to beat those others to the market.
- Picky Buyers. More and more we are encountering buyers who will stretch for the nicest home available and, if they lose out on that home they love, they’ll keep looking rather than compromising on what they want.
- Serious Buyers. Buyers shopping in the winter are generally more serious than the mass of spring buyers. They are being relocated for work, getting married, having another baby, etc. and are ready to move.
Together these three factors create strong seller dynamics in the winter months, which is demonstrated by historical statistics.
- In 2016, showings per active listing was constant from February through June, meaning that the balance between buyers and listings was as strong in the winter as the spring.
- In 2017, showings per active listing in February, March and April was 30%-60% higher than May and June. Homes listing in winter of 2017 were selling fast with multiple offers and waiving of contingencies because there were so few nice homes from which buyers to choose.
If you’re considering selling your home in 2018, we should be meeting now to plan and prepare. And if your timeline is a spring sale, we should be targeting late January/early February to hit the market.