I am considering selling my home but have had many people tell me I should wait until spring as this is the best time to sell. What do you think?
— A.J., Capac
A.J., Many sellers hold that same belief religiously putting their home up for sale every spring and taking it off the market every fall. They do this as if all home buyers packed it in for hibernation during the winter. The truth is that yes slightly more homes do sell in the spring but not significantly more. The flip side of that coin is that there are many more homes listed for sale in the
spring. Because of the increased inventory your home is less likely to sell in the spring. In the fall or winter, as the available inventory drops, you increase your chances of selling. You compete with many more other homes if you only offer it for
sale in the spring. If you are serious about selling there is no reason to wait. For example I have sold 4 homes already this month that were just listed for sale recently. If those sellers waited until the spring then they would not be moving anytime soon, if ever. Buyers look for homes when they are ready to buy and that does not necessarily mean only when it is nice weather outside. The other thing to consider is this is a constantly changing market. I am sure you are aware of the fact that prices have been dropping steadily now for a few years. Who knows what price the market will bear for your home in the spring? Things may be better but things also could be worse. Are you willing to take that risk that your home may be worth 5% less come springtime than it is worth right now? If you are serious about selling why would you wait? If you are not serious about selling then I suggest waiting until you are serious regardless of which season that happens in.
Alex Lengemann is a licensed Real Estate Broker who operates RealtyVolution.com, a local real estate company. You can Ask Alex your real estate or mortgage questions by phone 810-664-1819 or by email Alex@RealtyVolution.com.