You, the market, available homes determine when to sell
Q: I am getting ready to sell my house, but now that the weather is getting cooler, I wonder if I should wait for the spring selling season. What do you think? I’d like to move forward sooner but don’t want to list too soon.
A: Many people think you should take your house off the market for the winter and only list in the spring. If you’re in an area that gets a lot of snow, that might be true. But in general, you should list your house when you are ready, then do it in such a way as to get the most activity online. Those things include having great photos, making sure “weekend shoppers” will find your listing on a Friday, and pricing the house right. I know it sounds simple, but there are other considerations.
It is true there are more buyers in the spring than in the fall and winter. But there are also more houses because everyone holds out to list until the warm weather. The opposite is true in the winter. There are fewer buyers, but there are also fewer houses available.
All of that said, there are some financial considerations when making this decision, as well.
Over the last two years (and this is the common trend), median sales price does go down in the winter months, then back up again in the spring and summer. (This can be impacted by the overall trends in the market).
So, if you need to get a certain amount out of your house, or you’re very close to a short sale, you might want to wait for the warmer months to list hoping to get the slightly higher purchase price. In other words, I can’t tell you what to do, but if you’re ready to sell, the market in your area is active, and you think you’ll be able to find something you want to move into afterward, go ahead and list your house now. It won’t be quite as busy as it would in the spring, but that doesn’t mean you won’t sell it. After all, a buyer searching for a house between Thanksgiving and New Year’s, is a very serious buyer indeed. Meaning, you might get fewer showings, but the ones you do get are more likely to turn into an offer.