Off season and so close to the holidays. It has been a believe, some would say a doctrine in real estate that the best time to sell is Spring to Summer markets. There are a variety of reasons, but the biggest is that spring and summer weather is better for showcasing all of a home’s features, that serious buyers want to get their kids settled in the new home before the school year starts, or that buyers tend to hunker down in the winter and want to avoid driving in inclement weather. All those reasons might be accurate, but it’s also true that people need and search for homes year-round. Despite that, many sellers still think they should avoid listing their home in the off-season at all costs.
There are definite advantages to listing homes outside the spring or summer timeframe. Armed with these facts, you as a seller will understand that it’s possible to sell quickly in the off-season and for a premium price.
The end of an inventory shortage can generate premium pricing When the economy rebounds, housing inventory grows. An influx of newly available homes to the market gives buyers more choices than they’ve had in the months prior to economic recovery, and it can force sellers to reduce their prices just to stay competitive. Stay tuned to market reports. The off-season might be a good time for sellers to list before the housing market normalizes and buyers can be more selective regarding the available inventory.
Off-season sellers face less competition for serious buyers If other sellers decide to wait until spring to list their homes, it means less competition for buyers who are looking to purchase in the off-season. As many buyers tend to hibernate during winter months or want to avoid adverse road conditions, it’s a good bet that the ones who do their searching in the offseason are serious buyers ready to take action.
Also, seeing the house’s features “perform” in the year’s most potentially damaging conditions—heavier rains, freezing temperatures—can further convince the serious off-season buyers that the home is not a money pit.
Lower-priced homes can attract good prices How familiar are you with the inventory—in all price ranges—in your local market? In major metros, fewer homes for sale in the bottom third of the market by value can perpetuate inventory shortages in those markets. Sellers with homes in the lower price ranges, located in those areas, might face high demand and be able to sell for top dollar.
New buyers are in the market for homes There’s a fresh crop of hopeful home buyers: Surprise—it’s millennials. For years, this cohort (young adults aged 24–34) has been living at home or renting, due to financial constraints, and the myth perpetuated that they were flat-out uninterested in buying homes. But Zillow research shows that home ownership among millennials is trending upward. And the feeling among those who don’t yet own a home is upbeat: The Zillow Housing Confidence Survey shows that, of current renters between the ages of 18 and 24 surveyed, 54 percent expect to purchase in one to two years or in three to five years.
Thanks to Zillow marketing dept for these great insights.To read more about this" coiled spring poised to unleash tremendous energy into the housing market". For more information go to www.LisaFaria.com and www.LPFteam.com
