Happy first day of spring! It’s the time of year where we all come out of our winter coats to enjoy warmer weather and more sunshine. We also can now grumble “what’s with this weather; it is supposed to be spring” anytime the thermometer dips a little lower than we like. Traditionally, spring also begins a busier season in real estate not just in Locust Grove but nationwide.
What is the spring market?
The start of spring marks a traditionally busier time of year in real estate. After winter and the holidays have passed and before a new school year begins, more buyers are out searching for a home. At the same time, sellers are also ready to put their homes on the market.
I’ve often heard people remark “I want to wait until spring” to sell their home because they feel that this is the best time to do so. As a seller, having the belief that there will be more buyers looking for a home means that there will be more opportunities for offers. This is why a lot of sellers wait to put their home on the market.
How long does the spring market last?
The spring market starts in March and lasts into May. However, summer is also a busy season in real estate since any home offers that were made in the spring may actually close at the beginning of summer. Since the real estate market has also leveled, if a seller puts a home on the market later in spring, it may not be under contract until early summer.
Do I have to wait until spring to sell my home?
No! If the past three years have demonstrated anything, it is that you can’t predict the future. Normally quieter times on the market were some of the busiest. I think that the most important thing for sellers to understand is their local market. Knowing the average days on market, number of homes for sale, and average price are important pieces of information that should help make your decision about when to sell over the time of year.
While if the traditional thought for sellers that waiting until spring means more buyers motivates you to list during this time, you may also want to consider this; you are not the only seller that thinks this way. While there may be more buyers on the scene during the spring market there are also more homes. This could mean more competition for you as a seller.
At the end of the day, the best time for you to sell your home is when it is ready to be placed on the market. Having great marketing, a home that is staged, and priced correctly is what really sells a home.
