“Should I put my home on the market now or wait until September?”
This is a question we have recently been asked a lot. And this year’s answer is not the same as it used to be. Conventional thought was that August was a slow real estate month, families were on vacation and if you were thinking of selling, it might be better to wait until September when kids are back in school and more buyers have time to look at homes.
This year, however, we are advising that our Sellers are better served by not waiting to enter the market. Interest rates are rising. And serious buyers are looking now. We’ve had a number of open houses. At each one, there was a larger number of buyers than average. And, the key factor we noticed (very different than in many years past) – is almost every buyer was represented by a Realtor.
Why is this important? Because the majority of “serious” buyers (buyers who actually buy and are not just “lookie-loos”) have Realtors working on their behalf – especially in a market like today’s where inventory is low and buyers are competing for the same homes.
This puts potential sellers in a great position. Should you wait until September? We say “Carpe Diem!” The time to sell is NOW!
(Buyers – our advice is the same to you as well. Prices are rising and so are interest rates. Each month you wait is costing you money!)
(NOTE: Every situation is not the same. If you’d like a PERSONAL consultation on when we recommend you sell, and what items need doing before that, call The Belt Team at (703) 242-3975. We are happy to meet with you and provide you with 42 Questions You MUST Ask Your Realtor Before Selling A House)
Wondering whether NOW is the time to sell? Here’s what “Keeping Current Matters” had to say (and we agree!):
It’s common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results:
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,820,000.
That number spiked to 2,140,000 by May!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.
Click here for an estimate. Then call Terry Belt & The Belt Team at (703) 242-3975 to schedule a FREE NO OBLIGATION consultation. We’ll provide you with the FACTS about YOUR market so you can make the BEST move!