Is There a “Best Time” to Put Your House on the Market?
Many folks often ask: when is the best time to put a home on the market here at Smith Mountain Lake? Conventional wisdom often suggests that waiting until Spring is the best option. As an experienced realtor, I’m not so sure that holds true for those of us in the Water’s Edge community. As Warren Buffet once said, “If you wait til you see the robin, spring will be over.”
A few reasons why selling your home during the winter months is a good idea:
- Buyers who are reviewing property listings right now are serious. Buyers who are looking in the winter can take their time and evaluate options. If they see something they love now, they have time to close on it, move, make changes, order furniture and be ready to relax and enjoy their new home when the warm weather arrives. Additionally, rates are still low and people know it’s a good time to buy.
- Buyers know that sellers who have their homes on the market now aren’t usually “testing the water.” Winter sellers are ready to move on to the next phase in their life; they aren’t letting the market time their lives. If you time your life around the perfect market you may never move.
- When the market picks up in the Spring, so does the competition. The savvy seller knows that a property listed during the winter months stands out simply because there are fewer listings.
Overall market activity in our area has increased by 30%. There are more buyers and a greater number of transactions, but prices haven’t gone up. Right now, the serious seller is ensuring that their home is in terrific shape , is putting a realistic price on their property, and is getting their home to market quickly. Above all else, remember that over 90% of today’s buyers begin their search online. What better time to look at homes than sitting by a fire with your feet up?!
January is almost over and Spring will be here before you know it. Selling your home now, during the winter months, may be a smart and financially advantageous option for you.