This maybe be a year of upsets (ask me about the Red Sox), the rules for when Central
Mass listings are best initiated might be primed to fly out the window.
The history has long demonstrated that the most opportune time of year to add your home to the Central Mass listings is during the peak spring and summer seasons. When you look at the volume of home sales through most years, those months do look inviting. There are exceptions, but for the most part, spring and summer regularly excel in sales volume.
“This fall and winter, Sellers May Benefit current market conditions.” This reasoning is short and sweet using recent facts, then drawing a realistic conclusion. Here are the facts:
- Supply. It’s a fact that from one end of the country to the other, the residential inventory (supply) is starkly reduced. Thus, homeowners who list now “face very little competition.”
- Demand. Even though the late fall and winter months have traditionally shown weak demand, the threat of mortgage rate hikes may have been all that was needed to instill a growing sense of urgency among buyers. Early results reflect buyer demand that’s “abnormally strong” for this time of year.
- Optimism. With consumer confidence at a 15-year high, once the spring and summer buying season was over, Central Mass buyers may find themselves in a “buying competition” for the homes in certain price ranges, that are still available.
These trends are all well-documented. Yet there are those that seem to argue against listing your home now. After all, wouldn’t it still make sense to follow the traditional dictum, to hold off until that fierce competition takes hold? The answer that flips such a
conclusion is found in the fourth fact:
- Sellers will be Buyers. Overwhelmingly, national surveys suggest that the homeowners behind most Central Mass listings will also become buyers once they have sold. In fact, an estimated 85% of American home sellers plan to buy another home! If that’s correct, it’s not surprising that they’ll be grateful if they are quick to sell into this winter’s market. That will not only help them get a jump on the crowd come springtime it will also lengthen the odds that they can cash in on mortgage rates before they rise substantially. All of a sudden, the net advantage to listing this fall could be substantial!
The short takeaway is that simply accepting the old common wisdom warrants a second look in 2017. If you are one of our Central Mass homeowners who automatically presumed the wisdom of waiting a while longer to join the Central Mass listings, it might pay to reassess. Give me a call if you’d like to discuss how your plans fit into today’s broader residential picture and how to take maximum advantage of this year’s market!…..Realty Ace LLC