As the holidays approach I’m often asked whether it’s a good idea to list a house now or wait for spring, or whether to leave a house on the market or take it off until the spring. You may wonder if the fall and winter months, will bring about a home sale but the “off-peak” time to sell can actually be the perfect moment for sellers.
Right now our advice is full steam ahead! Studies show that, on average, homes listed in November and December are more likely to sell, more quickly, and more closely approach the asking price. In a study conducted by Realtor.com, nearly 80% of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and less competition from other properties makes it an ideal time to sell.
Also ,there are currently, significant economic factors that point toward taking action sooner rather than later. One the plus side, demand is still high and supply is low – a perfect scenario for a quicker sale if you price smart and make your home inviting to the prospective buyer. Business is active right now, even with the Thanksgiving holiday upon us. Inventory of homes on the market at this time of year decreases – why would you want to take your home out of the running when there are less runners! Buyers may have held out through the busy summer months hoping to find a better deal, and now they are searching with increased urgency to buy their home and not extend their search another year.
On the cautionary side, the economy right now is good, but the stock market is volatile. Also, people living in highly taxed states like New York, California and New Jersey will be facing lower tax deductions for mortgage interest, real estate and other local taxes next year – a scenario that may increase their taxes.
If you are hesitant to list your home – don’t be! Demand is strong and the inventory is low – a great opportunity to sell your property! As long as weather permits, buyers will go house hunting. They know that to be in place by summer, they need to make a deal now, especially if they require financing. We are continuing our weekly open houses each Saturday through the winter and invite prospective buyers to come and see the values we offer. Call us for a market analysis. Or just come in and chat – were available 7 days a week! And besides, Lee has lots of espresso brewing!!!!