Should You Wait Until The Spring Or List In November/December?
Tuesday Nov 05th, 2019Share
During this video, Michael will share with you whether or not it is beneficial for YOU to postpone your move until next year, or list your home now.
1. Low Inventory Means Less Competition
Since spring is the most popular time to sell your home, the housing market is ultra-crowded with options at that time of year. The law of supply and demand tells us that, regarding real estate, when the supply (listing inventory), is lower, and there is enough buyers, homes will sell a lot easier.
Most sellers still think they need to sell in the spring... but it means they will likely be competing for buyer's attention. The market is very unstable and the past spring was NOT the best time to sell your home in 2019.
2. Winter Brings Out The Serious Buyers
Unfortunately, not everyone looking at houses intends to make a purchase. Some people are just contemplating moving and may want to see what's on the market. Since more homes tend to go on the market in spring and fall, this is when many of the window shoppers are just out looking
However, these looky-loos tend to be scarce during the months of November through January.
When I have buyers looking for homes around this time of the year, they’re real buyers looking to make a purchase... especially if it's a great house. They don't want to take the chance of waiting until the Spring when, although there may be more selection, they understand they will have more buyer competition.
There may be less visitors to your home, but I would much rather have 10 real buyers come through the home than 20 people who are just curious.
3. Different Types Of Buyers
You could also encounter buyers who are relocating for a new job.
One of the biggest months for corporate relocation is January, so those buyers, who need to move quickly, are out in full force looking for a home that suits their need.
Relocators typically have a limited amount of time to uproot their families and don't have the luxury of spending a lot of time looking at properties. The kids need to get settled into their new schools, and dealing with selling their old home will add another level of urgency and stress. So it's very likely that once the buyers find a home that meets their requirements, they will be ready to sign a contract!