As I’ve said in previous posts, the idea of moving can be a daunting task, but with the help of the right people, it doesn’t have to be. Last month, I discussed “What Should I Do To Get My House Ready For The Spring” (here) and as a result, many of you called, texted, emailed, FB messaged or we simply met up in person. Needless to say, I thoroughly enjoyed our conversations (and drank way too much coffee), but this month I am covering the question I got the most as a result of those discussions. When exactly is a good time to list my home for sale?
In Philadelphia, the traditional thinking used to be when the weather turned; the proverbial “Spring Market”. This meant no snow on the ground, milder temps, perhaps a little green coming in on the shrubs and trees and the birds chirping. However, once we entered a seller’s market a few years back, that starting point was moved back to “right after the Super Bowl”. The idea here is the same for buyers and sellers. Both are trying to get a jump on the market or they simply need to sell or buy.
Here’s the thing though: When answering this question, any good agent should go deeper than simply relying on weather trends. They should, in fact, rely on data…if they can. Opportunity is found by those who don’t rely on what everyone else is doing…or not doing. Unfortunately, it doesn’t occur to a lot of agents to lean on the data and they simply default to the conventional thinking. This isn’t to say that weather isn’t important because it is, but a quick look at the data shows historically there has been considerable activity prior to the Super Bowl in year’s past. In the Philadelphia area for example, in December of 2016, 2311 homes went “pending” and 2900 did so in January of 2017. What does this tell us? It says that buyers stuck it out through the holidays and found their home when most buyers were hibernating. Conversely, this tells us that finding a buyer for your home is not as impossible as the conventional wisdom states.
One caveat to consider though is the fact that while there are some buyers out and about during the winter months, there is less chance for a bidding war since there are simply less people looking for homes. Even without a bidding war, you can still get lower offers than you normally would in the months of March & April. However, if you’re a seller who really needs to get moving, the opportunity is there for you.
Now, this doesn’t mean that you should list your home during a blizzard, but the point here is there are other factors than simply weather patterns to consider in this seller’s market we’re experiencing. And an even larger point is that you and your agent should be digging deeper when making strategic real estate decisions.
Unlike many REALTORS, I write my own stuff and would be happy to showcase your question in my next installment. Go ahead…Ask me anything or leave a comment in the section below!
Seth Lejeune – 610.804.2104 – firstname.lastname@example.org / Berkshire Hathaway – Fox & Roach
Seth is a licensed REALTOR, entrepreneur and small business owner based in Philadelphia, Pennsylvania.