Depending on which side of the fence you are standing on, you can make a compelling argument on the best time of the year to list your home for sale. As a homeowner, you may want to wait for spring or summer when things are less ‘busy’ and the yard is in bloom. If you are a seller, winter is a desirable time to sell your home, especially when the inventory is lower and there is high demand.
Compelling reasons to list your house this winter
Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout Prescott and the vast majority of the country. These buyers are ready, willing, and able to purchase a home and are in the market to do so right now.
By selling in the winter, you are taking advantage of the buyer activity currently in the market.
There Is Less Competition Now
The inventory of homes for sale is still under the six-month supply needed for a normal housing market. This means that in Prescott, Arizona, and in most of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, homeowners stay an average of six years in their homes. Since 2011, that number has hovered between nine and ten years. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
Buyers Are Serious at This Time of Year
Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers seeking a home – whether for relocation or otherwise – are serious. They’re ready to make offers and eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off, may be your best opportunity to stand out against the competition.
There Will Never Be a Better Time to Move Up
If your next move will be into the premium or luxury market, now is the time to move up. There is ample inventory for sale at higher price ranges. There are currently approximately 58 luxury homes for sale in Prescott, Arizona, all priced over $1.5M.
This means that if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. The demand for entry-level homes is high, and inventory in the luxury market is high, too.
Selling your home is a big deal. Life situations often force the timing of a move, but it is nice when you have the luxury of analyzing the market to find a suitable time to list your home for sale. I have been selling homes in Prescott, Arizona, for years and have multiple tools to help you analyze if this is the right time to sell your home. Call me at (928) 308-0101.
