When is the ‘Best’ Time to list you house?
Happy Thanksgiving! A question I’m being asked…
Should we wait until the Spring to list because nobody looks for homes in the Winter?
This is traditional knowledge is Spring is the best time to list your home. You have to understand why that is the traditional advice.
Spring has been considered the best time to list because that is when inventory is at its lowest point before it starts to climb.
A homeowner should list their home when inventory is the lowest point. This is because there is less competition with the same amount of buyers. Price will always be a function of supply and demand.
So, what is going on in today’s market?
Something very strange. This is the first time in 10 years that we have seen inventory rise during the Winter Months. It typically declines until it reaches Spring. However, this market is different.
If inventory continues to rise then Spring will not be the best time to list. This is because inventory will be much higher.
The other trend we have tracked. Traditionally buyers don’t look for homes in the Winter. Therefore, you should list in the Spring when the buyers arrive.
COVID changed this trend. 60% of buyers prefer video tours versus physical showings. During the Fall and Winter months, we have seen an increase in web traffic and video tour requests.
This is not our traditional marketplace. Our verdict is to list your home during the holidays and the beginning of the New Year during the Winter Months.
We recommend an earlier than normal list date with the caveat that you get to choose your closing date.
For example, you might list in December but, you don’t have to move until March or April.
Those that list in the Winter get the benefits of no competition and the upside of closing in the Spring.
Those that list in the Spring will not close until late Summer or Fall.
Reach out for a free home value so, that you can make an informed decision. We will also gameplan a roadmap for your situation.
Call me at 509.255.8070 for a home value and a timing analysis.
Nick McLean Real Estate Group