We all want the timing to be just right, don’t we? Do you remember that game you used to play as a kid called two truths and a lie? Well, that’s what we’re going to play here today only I’m going to tell you which one is the lie! Let’s get that one out of the way first…
Lie: If we miss the mark on when to put our house on the market, we will be in trouble and the house will never sell!Worst of all, we’ll have no choice but to start burying statues in the backyard! Just kidding! But seriously, this just simply is not true. Let’s take a look at why…
Truth #1: Homes sell all year long.This one is simple. Look at the data. There just isn’t a month in the year where there are NO home sales. Not going to happen.
Truth #2: The market ebbs and flows throughout the year.This one is pretty simple too. Think about the ebb and flow of your family’s calendar – the real estate market follows those peaks and valleys of activity pretty closely. The peak market people want to learn most about is the early spring market. This time historically has the most buyers and starts about mid-February. Think about it – if buyers want to finish out the school year and also allow a few months to search and close on a home, they will start heading out in March so make sure you are live by or in the month of March.
The first lull (after the peak season) tends to happen in July. I, along with my realtor friends, blame that on summer travel. Not sure if we are right, but we usually do experience a little dip.
Next up would be back to school week and Labor Day weekend for obvious reasons.
After that it picks back up in September. People want to get moved in before the snow and holidays, so there is a common push to be in before Thanksgiving.
That leads us to the holiday season. Typically, I’ve seen activity drop from just before Thanksgiving until that February market peaks again. I’ve heard some agents argue that winter is best time to put your house on the market because the buyers that ARE out are obviously serious and the inventory is low. There is certainly some truth to that and as I said earlier, homes do sell all year long – even in Illinois!
My best advice is get your house out there in the market in spring if you can, but it’s certainly not a death sentence. A death sentence IS when you start chasing the market because you didn’t want to believe the numbers from day one. You can recover, of course, but please just avoid this slippery slope. Know your numbers like average days on the market and what other homes around you have sold for recently. Be realistic and trust your Realtor.
Bottom line is…Position yourself appropriately to your competition; understand the market numbers and you will prevail!If you have questions specific to your personal situation, please contact me. I will give you my expert opinion based on the details surrounding your property.
My best always!
Your Cure for the Common Realtor,