New Spring Real Estate Market
Last week there was 87 homes that were under contract and only 30 new listings, so what does that mean for you if you're looking at selling right now? There were very little listings, but we actually saw a big number of homes that went under contract, so what does that mean?
It means that spring really isn't the new time to come in and sell your house. Research according to realtor.com, last year in January 2019 there was 1% less homes viewed in January than in February and in March, so a lot of people are starting to look at homes in January and February, and not waiting until the spring market.
A lot of people are knowing that the spring is a huge time to buy and sell but now that there are buyers, and it's proven last week there was still real estate transaction that was going on, and you can see 87 homes are under contract. Now seven of those went under contingent, so about 80 or so actually went pending, but that's showing that even through the slush, wind and cold, people are still wanting to buy homes, there just isn't a lot of inventory out there.
So if you are thinking of selling your house and you're trying to wait for the spring, right now may be the optimal time, because when you want to sell something and there's a high demand but a shortage of inventory, that's when you're going to get the most amount of money for anything that you're selling.
So guys you should look at it, the snow hopefully won't be coming back, hopefully we have a nice wet February, but you should really start thinking about getting your home prepped and getting it on the market before the springtime because even if you are listing your home you will have competition with everybody else, so why not capture less competition and maybe possibly getting a higher dollar amount for your house still here in the wintertime.
So remember there's a misconception that springtime is the best and optimal time to sell your house, when data shows that maybe it's not so much anymore, and that there is a new spring market which is now the winter market to sell and buy a piece of property.