Historically low inventory and a plethora of buyers makes this fall a fiendishly good time to sell
Popular wisdom says wait until spring to sell your house. Of course, that same wisdom says don’t take candy from a stranger yet 50 million US kids are going to do precisely that at the end of this month. If you’ve been thinking about making a move, now may be the perfect time to trick tradition and treat yourself to a big bag of money.
The logic for waiting until spring is that there are fewer buyers looking during the fall and winter. It’s assumed that buyers wanting certain schools won’t disrupt their kids’ schedule and that buyers have generally settled in to wait out the winter doldrums before diving back into the real estate market. While that may be true for some buyers, it’s not true for all of them. Moreover, there is a great corollary benefit for sellers: fewer homes for sale means less competition for the buyers that are still looking.
2015 has been plain awful for buyers and absolutely amazing for sellers. Per the dark green lines in the charts below, courtesy of our friends at SeattleBubble.com, the past year is on pace to be among the best for homes sold despite being the worst for the number of homes for sale. And inventory is about to drop even further off the proverbial cliff over the next few months which presents a ghoulish opportunity for the bold seller willing to defy conventional wisdom.
Interest rates are super low and there are plenty of buyers that want to buy a house. Quite a few have lost out on bidding wars and are ready to pull the trigger the second a good house at a remotely decent price hits the market. Many more are watching and waiting for just the right house to come along.
Every house is different and some may be better candidates than others to list in the fall or winter. If you’ve been wondering if now is a good time to test the market, we definitely think you should consider it. Give us a call or shoot us an email if you’d like a second opinion on whether now is the time to list or if waiting until spring is the way to go. You can reach Marc at 206-357-4224 or firstname.lastname@example.org.