Thinking of Selling? You Don't Have to Wait Until the Spring

You may have heard that the housing market is hottest in the spring and summer months—that it’s smarter to wait until the holiday season ends to list your home. So, is this true? Well, yes and no. While housing inventory generally tends to be higher in the spring and summer months, this doesn’t mean that waiting to list until after winter will be in your best interest. Here’s the thing. People buy and sell property year-round. The “right” time to sell your home isn’t based on market trends or seasonal influence. It’s unique to your situation. If you’re ready to sell your home but aren’t sure if you should wait until the spring to do so, consider speaking to a realtor about your situation and possible options. A realtor can help you decide when to list your home and at what price, explain how best to market and show the property, and provide market insights unique to your neighborhood and area.     The Housing Market is Shifting The housing market has seen shocking changes in the past two and a half years. From sky-rocketing home prices and limited inventory to record-low interest rates, many homeowners have found themselves questioning what they should do with their home. In 2020, real estate professionals were already preparing for a booming home-buying market, as millennials reached prime home-buying age. Then the COVID-19 pandemic hit. With more people pivoting to work-from-home roles, the housing market saw an even bigger boom than expected. Other factors, like low interest rates, high buyer demand, and scarce inventory, also contributed to this boom.Now, we’re seeing the housing market slow. Inventory has risen, property prices are beginning to fall, and interest rates have bounced back to pre-pandemic levels. So you may be wondering: did I miss the boat to sell? If the housing market is starting to resettle, should you wait until after the holidays to list your home, when things are expected to pick up a bit? The End of the Year is as Good a Time as Any to Sell If you’re ready to sell your home now, let go of the notion that you “missed the boat” by not listing in the spring or summer. Listing at the end of the year won’t hurt your chances of selling your home.    The market is starting to slow down for a few reasons. In addition to a naturally slower market in the fall and winter months, rising interest rates have also scared some buyers into waiting out the market, hoping to see lower rates in 2023. While rates will eventually fall again, there’s no telling when this will happen or how low they will go. Serious buyers working with realtors and lenders will understand this.   The fall and winter months are as good a time as any to sell your home. Plus, there are so many advantages to selling your home during the holiday season, such as: There’s less housing inventory in the fall and winter months, which means you’ll have less competition. With fewer homes on the market, inspectors and appraisers will have fewer jobs, which means you could have a faster closing, as you won’t have to wait weeks for an inspection or appraisal. Buyers will want to get settled in before the holidays, motivating them to close quickly. Houses decorated for the holidays show well and can help buyers imagine themselves celebrating future holidays in your home.   Tips for Selling Your Home This Season Manage your Expectations If you watched your neighbor list her home in the spring and go under contract merely 24 hours later, you may be disappointed to learn that your home could sit on the market a little longer. Homes are no longer flying off the market—and this is completely normal. It’s important to manage your expectations if you plan to list your home. Know that houses are sitting on the market longer now and prices are beginning to fall. Some homes are still going under contract relatively quickly, so speak to your real estate agent to get a better picture of how long it may take for your home to sell. Know and Prepare for the Challenges There will always be challenges to selling a home, no matter when you list. In the fall and winter, bad weather can make showing a home difficult. Placing doormats both inside and outside of your house should keep buyers from tracking wet footprints throughout your home. In addition to lower inventory in the fall and winter months, there are also fewer buyers shopping for homes at this time of year. This may be due to holiday travel plans or busy work and school schedules. While there may be fewer buyers putting in offers on homes, you’ll have less competition to worry about, so your chances of finding a buyer for your home won’t drastically drop. Take Advantage of the Holiday Spirit The holiday season presents a great opportunity for your realtor to creatively market your home. It also presents you with the opportunity to decorate your home and make it as inviting as possible to potential buyers. Enhance your curb appeal and decorate your front porch, as this is the first thing buyers will see as they approach your property. Make sure the inside of your home is staged well, decluttered, and decorated for the season. You can also add warm lighting inside to make your home feel cozier, especially on dreary winter days. Find a Great Agent Whether you plan to list now or in the spring, having a great realtor is the key to getting your home sold. Research local agents in your area and make sure you ask them what they plan to do to market your home. If you’re currently looking for a realtor to sell your home, contact one of our agents. We’re a community-driven, fun group of professionals with a passion for helping clients buy and sell with ease. When you list with us, our agents will use a variety of marketing platforms and materials to advertise your home, including professional and aerial photography. You can learn more about our brokerage and what we offer by visiting us on Facebook!

MORE