Is Selling Your Home in the Spring a Good or Bad Thing?
February 5, 2010 by Danilo Bogdanovic
Filed under Seller Resources
Many sellers wait until the Spring to sell their home. Why? Because they think the “Spring housing market” is the best time to sell their home. But is selling your home in the Spring a good thing or is it really a bad thing?
Selling your home in the Spring could be a good thing for reasons such as,
- you have a pool that looks better open than winterized
- the thousands spent on landscaping a million times better in full bloom than in the winter
- having leaves on the trees in your backyard hides the fact that your neighbors are right up on your lot line
- you want to time it so that you settle on the sale of your home and move right after school lets out
But, selling your home in the Spring could be a bad thing. Consider this…
Business/Economics 101: Supply vs Demand
We all know the centuries-old golden rule of business/economics – the more the supply in relation to demand, the longer it takes to sell the supply and the less it will be worth.
Let’s translate that to real estate and the housing market
Your home on the market + more other homes on the market at the same time (“Spring housing market”) = longer time to sell and less money.
Let me explain further
By waiting until the Spring, you will be listing your home when,
- All of your neighbors (aka competitors) who waited for the “Spring housing market” list their home for sale too
- The home buyers you want focused on your home and your home only will have more homes to choose from
- Your home will more easily blend in “with all the others on the market” (actual words from home buyers)
- A competing seller relocating once the school year is over who has a buy-out package from their employer lists their home at a reduced rate because they don’t care so much about the price rather, selling quickly
I can hear some of you now, “But the Spring is when most buyers come out to buy homes.” Let me respond with some facts you may not be aware of…
Statistics show that January and October have been the #1 and #2 busiest months for homes going under contract (aka buyers buying a home) in Loudoun County/Northern Virginia over the past 6 years (despite Armageddon-size snow storms like the one here this weekend). For me personally, December, January and February are the three busiest months of the year when it comes to home buyers house hunting and writing a contract on a new home.
And if you haven’t checked out my post from the other day entitled, “When Does the ‘Spring Housing Market’ Start?” click here to check it out now.
Other than having to wait until Spring due to work, family, life or some important selling factor (such as one of the three listed earlier in this post), you should be on the market in January/February. If you can’t list your home in January/February, then aim for another month when the fewest number of other sellers/competitors are listing their homes for sale.By following this approach, you’ll face the least amount of competition and have the greatest chance of selling in a reasonable time and for top dollar.
If you have questions or concerns about selling your home or the local housing market, click here to email me or call me – 703.582.6900 (cell).
Related Posts
When Does the “Spring Housing Market” Start?
A Seller’s Guide to the Short-Sale Process
Where Have All The Home Buyers In Loudoun County Gone?!
March 7, 2008 by Danilo Bogdanovic
Filed under Buyer Resources, Seller Resources
Many sellers with their homes on the market are wondering, "Where have all the home buyers in Loudoun County gone?" Well, the answer is they haven’t gone anywhere – they’re still right here. The reason why some sellers haven’t seen any buyers come through their property and/or why they haven’t received an offer yet is because of one reason – price.
For example, we published a post the other day on what we thought was one of the best town home deals in not only Ashburn, but all of Loudoun County. Since we published that post, we’ve found out that the property has received 8 offers. That’s right…8 (eight) offers. And those 8 offers came within less than three weeks of being on the market.
Why? Because of the price.
Here’s another example:
I am working with a buyer that has decided to place on offer on a property. In less than one week of the property being on the market, the seller received our offer and another 3. That’s 4 offers in less than a week.
Why? Because of the price.
As you can see, buyers are still out and about and in decent numbers. Just between these two properties, there are 12 ready, willing and able buyers actively looking to buy a home in Loudoun County. But they’re looking for the best deals. If a property is a great deal/value (aka priced correctly), buyers will flock to it. And in herds. If not, they’ll pass right by it without hesitation.
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"Think It’s A Great Deal? You’re Not Alone So Be Prepared"
