Time to List: Selling in a Seasonal Real Estate Market
As much as this recent warm weather may give us hope that spring is near, we Mainers are still in the midst of another New England winter. The snow will surely return, and we’ll resume shoveling and snow blowing for just a little bit longer. This hint of spring weather, however, reminds us that spring is coming…someday. And with it – a busier real estate market. The number of home sales increases significantly as the housing market enters the spring home-selling season. Once the weather starts warming up, more and more houses start going on the market until it reaches peak saturation around June. If you are selling your home this year, give yourself a head start on competing listings and put your home on the market now.
Time It Right
Putting your home up for sale during the busy spring-summer season is beneficial for a few reasons. First, you will probably spend less time marketing your home. Second, since more homes are being sold during that time of year than during any other season, you have a high chance of finding the right buyer. However, if you put your home on the market just as this busy selling season begins in March, you will reap the greatest benefits of all.
March is upon us, and buyers are looking hard right now. With more buyers than there are homes for sale, many homes are receiving multiple offers. As more and more listings appear in the market starting in March, the number of buyers will increase as well, but not enough to keep up with the amount of listings. The transition from spring to summer will see more listings than buyers, which means more homes sold…but also more competition for you as you market your home. Time it right and put your home on the market now to catch the market before it becomes over-saturated with listings.
The housing market is slow in winter for a reason. The holidays keep people busy, snow can hide curb appeal, and moving in cold weather is less preferable. But listing your home now as winter is fading doesn’t mean you’ll run into these problems. The holidays have ended, and buyers are already scouring the market for their first or next home. If you are lucky, last week’s warm weather melted a lot of the snow on your property and your listing photos will be undeterred by the wintry pileups. Keep your exterior photos as lovely as your interior ones – update them immediately once all of the snow has melted. And lastly, by the time you sell your home and the deal is closed, the weather will likely be much warmer than it is now – making moving that much simpler.
Many people wait for their grass to get green and their flowers to bloom before putting their home on the market, but by then it is too late – the competition has caught on. Ask a Realtor for help in getting ready to sell. Once your home is ready for listing photos and showings, give yourself the upper hand and don’t wait – list it!
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