House for sale

There seems to be a consensus that the spring market is the best time to sell your house. Most real estate agents will tell you this. But why is that?

Problems Leftover From The Recession

The real estate market is still trying to work out the problems it has had since 2008. Homeowners who wanted to sell in 2008 or subsequent years were stuck. Either their homes were worth less than what they paid, and they couldn't sell, or they didn't want to sell in a recession.

So many owners waited until the market started to creep back to normal to sell. And when they did, they all listed their homes in the spring. As that season wore on, more and more houses were stuck on the market, not selling, and owners were forced to lower their asking prices.

As a result, one of the trends we have seen is that the spring market has been pushed back to start earlier and earlier in the year.

What often happens is that owners who come late to the market have to lower their prices to meet a moving deadline. Or, they do so to avoid being on the market in July or August - which can be a dead time for selling a house. This causes everyone else to have to lower their prices as well as more and more homes come on the market in May and June.

What You Need To Sell In Peak Season

Spring does bring out lots of buyers. However, the truth is that spring often brings out many more sellers than buyers.

In the last several years in Southeast Michigan, competition has been high, and inventory has been low. However, we're about to see a change in this pattern.

When more homes like yours - either in your neighborhood or your city - hit the market, buyers can afford to be choosy. This makes it hard on homes that aren't in tip-top shape.

If you're planning to try to list in April or May, you could be in for a big surprise when many other homes in your neighborhood are being listed as well.

Does your home have fresh carpet and paint? Is it completely clutter-free and clean like new? If not, you are in for an uphill battle.

Start Your Listing Early

This is why you may want to consider getting your house ready to list now if you're going to plan to sell by spring. It does sound very early. After all, the winter holidays have just ended.

But I'm here to tell you that it's not too early to put your house on the market in February for the spring market.

Why?

There aren't as many hard-and-fast rules in real estate anymore. Buyers start searching when they are ready. They can often begin this process from the comfort of their couches. Thus, the season doesn't matter quite as much as you might think.

This means that selling a home often requires a strategy, and it requires an expert set of eyes to watch the market and react accordingly. This, in turn, means that you as a homeowner have to be able to be flexible - as much as you can.

Listing your home in February gives you the advantage of entering the market before it starts to ramp up. There will be fewer homes for buyers to compare.

A good rule of thumb is to watch your neighborhood to see how many homes are for sale. National and regional sales statistics can tell you some important things, but it's your neighborhood that will determine when and for how much you sell.

Bringing it Home

Although the spring market for real estate is still a good time to sell, this may not be the rule to follow every time, especially as the market starts to slow down a little bit.

If you are thinking about selling this spring, now may be a good time to start getting your house ready to list. Call the Jamey Kramer Group RE/MAX Classic in Novi, Michigan today!

248-348-7200