Sell Now or Spring?
As Realtors, one of the most frequent questions we get asked by clients during the holiday season is whether they should put their homes on the market now or wait to list until spring. With Thanksgiving behind us and the December holidays in front of us, it can feel like the world has slowed down a little—but what does that mean for real estate?
While it is true that there is less activity in the real estate market during the winter months, that does not mean the whole season is a wash. For example, while there are less buyers this time of year, the buyers that are active are typically more serious. Moreover, with lean inventory not only this season but this year, buyers are more eager to come across anything new that crops up on the market. In October 2019 the active inventory on the MLS was 382, down 30% versus the same time a year ago. With less inventory, there is more competition and sellers can negotiate better terms.
For clients who are ready to move or have very little preparatory work to be done on their homes, selling now can be a no-brainer. But what about for sellers who aren’t so prepared? As always, it is more important to enter the market when the home is ready rather than rushing to get it listed. Despite the fact that buyers are keen for new listings, it is more important to have the home at its freshest and most show-ready to attract the best buyers and offers. Instead of scrambling to pack up and hastily complete home projects, this can be an opportunity for sellers to take their time to get their ducks in a row.
As always, the logistics of selling your home should be decided after a discussion with your Realtor. You Realtor can assess the current market, make recommendations for readying your home, and come up with a plan together to make the best possible impression on the market, whether that is now or in the spring.