Isn’t the market supposed to slow down over the holidays?
There is a general sentiment that spring and summer are the best times to buy and sell homes. Spring and summer offer great showing weather, an opportunity to move while the kids are out of school, and more inventory.
So why would anyone buy or sell a home during the winter or fall?
Homeowners make the decision to sell for many reasons, and the right time for them isn’t necessarily during the most beautiful months of the year. The good news for any seller is that we have been just as busy this fall and winter as we were during the spring and summer.
Putting your home on the market during the fall and winter is NOT a death sentence to your sale price! What we see during this time of year is that there is low housing inventory and less competition for homeowners. Less homes on the market means that, with proper marketing, you will reach a higher percentage of the potential buyers in your price range. This being said, the trick to selling your home during the fall and winter is to be patient. There is less competition so your home will see a higher percentage of buyers, but there are also a lower number of buyers. Many sellers see their homes sitting on the market for 45-60 days and start to worry. Although I would love if every home sold quickly, the reality is that some homes take longer to sell than others. You can also anticipate that because there are fewer homes available, it may take a little bit more time to find the right one. The important thing to remember is that there are new buyers entering the market every day.
Much like sellers, there are numerous reasons that people decide to buy a home, and they don’t always coincide with the seasons. Buyers may not realize that fall and winter are actually good times to buy homes. (Take us for example, we’re in escrow for a home ourselves! Don’t worry, we’ll keep you posted…) As mentioned above, homes take a little longer to sell during this time of year and sellers can start to get a little anxious. Fortunately for buyers, this may make sellers more flexible on your offer price or terms.
If you are deciding whether NOW is a good time to buy or sell, give us a call and we can discuss your real estate goals. Everyone’s situation is unique, and we like to provide one-on-one quality service for each and every one of our clients!