Should I Put My Home on the Market Now, or Wait Until Spring?
This is a question that is often asked and really the answer is you should put it on when you are ready to sell.
Unfortunately, there is a misconception that homes sell only in the spring. The truth of the matter is homes sell almost every day of the year. Offers are probably written every day of the year!
The real estate market will not wait for you to put your home on the market. It will go on without your home. There are people who are actively looking to buy a home in Delaware now! Do you want to miss out on those people who are going to buy in the next couple of months?
Other People Have Asked:
So, should I put my home on the market now or wait until spring?
There are advantages to each market, and here are some of the advantages of putting it on the market now.
Competition
- Consider how much competition you will have in the Spring. In June of 2016, there were 2627 homes listed for sale in New Castle County. In January 2017, there were 2136 homes for sale. Assuming the same thing happens this year, that would be 18.7% less homes that you will be competing against.
Less Competition Means More Money for You
- With serious buyers having less inventory to choose from, your home could be worth more than if you waited until Spring
Current Market
- You may have a pretty good idea what price your home would sell for today, but six months from now is a completely different market. Unfortunately, there is no telling what the market will be like then. Interest rates, government issues, and the financial markets could all impact whether your home will be worth more, less or the same.
Serious Buyers
- Some sellers feel that a lot more buyers in the spring and you should wait until then. And it is true that more people are looking at homes in the Spring, but that doesn't mean they are all buying!
- If you are looking to buy a home now, you are probably pretty serious about it and sellers want serious buyers.
Faster Sales
- Because loan officers are often dealing with more buyers in the spring and summer, loans can take a little longer. With less buyers, the loan departments can process loans faster than they sometimes can during the busier seasons.
Home for the Holidays
In addition, the fall and winter months offer the comfort of a home which appeals to people. There is a reason the saying is "Home for the Holidays" and not "Home in time to mow the lawn". Emotions play a large part in the purchase of a home and walking into a home decorated for the holidays can help buyers decide on your home.
When you walk into a home and a warm fire is lit in the fireplace and you've just come in from the cold, a home just feels more like a home. And that can make all the difference!