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. If you are 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 realtor, winter is a desirable time to sell your home with the lower inventory and the high demand.
Below are four compelling reasons to list your house this winter.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout Prescott, as well as the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market to purchase a home right now.
By selling in the winter, you are taking advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Inventory of homes for sale is still under the 6-month supply needed for a normal housing market. This means that in Prescott, Arizona, and in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners 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.
The housing market in Prescott holds true to the National average. As of December 1st, the inventory has decreased, giving new listings less competition.
3. 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 who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re 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.
4. 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 currently ample inventory for sale at higher price ranges. In fact, there are currently approximately 60 luxury homes for sale in Prescott, Arizona. These are luxury homes priced over $750,000.
This means, 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. Many times, life situations force the timing of a move, but it is nice when you have the luxury of being able to analyze the market to find the suitable time to list your home for sale. I have been selling homes in Prescott, Arizona for years and have multiple tools at my disposal to help you analyze if this is the right time to sell your home. Call me at (928) 308-0101.