Monday, November 18, 2019 / by Andria Sanchez
Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, the price of any item (including Spokane real estate) is determined by the theory of ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). n that is when they will have the most competition!
The #1 Reason to List Your Home in the Winter Months is Less Competition!
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the last years months supply of listings from the National Association of Realtors.
As you can see, the ‘sweet spot’ to list your home for the most exposure naturally occurs in the late fall and winter months (November – February).
Temperatures aren’t the only thing that heats up in the spring – so do listings!
Added Bonus: Only Serious Buyers Are Out in the Winter!
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping!
Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense. Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate. Call Andria at Haven Real Estate Group, let’s get together and get your home listed today!
Haven Real Estate Group