One of the most frequent questions I receive from people other than "How's the real estate market" is the question - "When is the best time to sell my home"? I have been selling homes for over 23 years and I am always surprised by the reaction I get from people when I tell them - the Winter market is an excellent time to sell your home! Now this always leads to further questions and explanations. So here it is in a nut shell.
We currently are experiencing a low level of inventory in our area. We have been for most of 2017. The level of inventory in the North East shrinks even more during the winter months as many sellers decide to wait for warmer days to list their homes. Therefore, the supply of homes is very low during the winter months. Now just because supply is low doesn't necessarily mean that demand will be higher. But what it does mean is that you have a greater chance of selling. The buyers climbing over snow banks and fighting cold temperatures to view homes are what we call "motivated". Therefore, when your home comes on the market in January there is a very good chance that it will sell quickly and usually for top dollar. Why wait til spring when the listing inventory begins to climb and the number of homes you have to compete with increase dramatically. Get the jump on the market, sell it around January/February, you'll be closing in March/April when the other homes are just coming on the market.
Of course, there are a great many factors that also come into play like condition, price, location and other amenities. That is a topic we'll address at another time. Call me for a market valuation and I'll show you how well your home will fare in this winter market. Til next time!~ have a Merry Christmas.