When Is the Best Month to Sell?
I'm asked all the time, " When is the Best Time to put my home on the market?" Most will say Springtime...I Disagree! Take a few minutes to watch my Top 5 Reasons why January IS the Best month to Sell a House..
1. Lower inventory = less competition Supply & Demand
Spring is typically the most popular
home-selling season. However, the market is becomes over populated with options
at that time of year. It goes back to the old law of supply and demand.
It also means there is a lot more competition
to lure buyer attention, and could mean you would have to compete with price
adjustments or seller concessions ( like offering to pay a portion of the
buyers closing costs)..all of which could lower your net proceeds.
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But in January, there are fewer homes for
sale. That competition over low inventory Can make January an ideal time to
sell your home.
2 . Growing
families looking to upgrade
Did you know, that according to The Center of
Health Statistics, 7 out of 10 babies in the U.S. are born in September? The
baby boom in September may lead to more buyers later in the year.
With the new family addition, That starter
home buyers bought a couple of years ago is starting to feel a bit crowded
Once baby is home and settled, parents are planning to start the year in a
new. Their needs have shifted and now require a more spacious, family home.
Therefore, there's likely to be an influx of
growing families looking to buy a larger house.
3. January brings out serious buyers
Flash* Not everyone looking at houses
intends Buy. Some people that are thinking about moving may just want to see
what's on the market.
Since more homes tend to go on the market in
spring and fall, this is also when the “tire kickers” are likely to be out looking.
However, these looky-loos tend to be scarce
during the Holidays.
Buyers looking for homes in January are real
buyers looking to make a purchase—especially if it’s a great house. They don't
want to take the chance of waiting until spring and losing out on the home.
4. Income Tax Refunds & Year-end Bonuses
As a seller, putting your home on the market
in January is a smart move, Knowing that Serious buyers have been waiting for that income tax refund or year-bonus to help
with their down payment and closing costs.
Therefore, may have more money to spend on
their new home. Especially first time home buyers.
5. Buyers- Relocating
The job market in the Greater Lakeland area is
booming! The area is growing like crazy with major employers like Amazon,
Publix, Lakeland Regional Health and Geico to name a few.
The biggest month for corporate relocations is
January and February.
In most cases, the window of time for those
relocating to find a home is narrow.
So they have to be very proactive and be able
to make solid decisions a bit quicker than perhaps a family just moving across
They don’t have the luxury of spending loads
of time looking at dozens of homes. They need to get the kids settled in
school, and perhaps having the deal with selling their existing home too..
which could add another level of urgency.
So it's highly likely, that once they find a home that meets their
requirements, these buyers do not hesitate.
So if you were thinking about putting your
home on the market in the Spring, please take a few minutes to consider these
top 5 reasons why January is the better choice.