Spring Market. It’s the busiest time of the year for real estate sales. But why? A lot of people think that it’s because it’s the season when homes “show” their best, are the most enticing, with their fresh green lawns and blooming lilacs. Even that’s not true; more than anything it’s a matter of timing a summer move for all the families who have children in school. So while it may be the busiest, is it necessarily the best time of year for you to sell your home? There are a lot of myths home sellers believe about Spring Market. Let’s dispel some :)
Myth #1 - Your House Will Look Its Best in Spring
Are you sure? Or --- what’s it going to take for you (time plus financial expense) to achieve that manicured, pristine, storybook Spring look? When you sell a home in the winter, no one expects you to have a green lawn, or flowers and healthy shrubs or a perfectly staged deck and patio. Snow and cold weather actually hide a lot of imperfections, and thus if your home’s exterior is due for some love, Old Man Winter may actually be your best friend!
Myth #2 - There will Be More Buyers Looking for Homes in the Spring
Well, maybe and maybe not - interest rates have an impact here. But there are PLENTY of ready, willing and able buyers househunting right now, and frankly you just don’t need hundreds of buyers to traipse through your house. In fact, you shouldn’t even want that. Aim for quality, not quantity
Truth #1 - You Will Have More Competition in the Spring.
That’s a definite. And it will not help your sale one bit. In fact, when buyers have more choices, your resulting sale is only negatively affected - price, terms, process - the whole enchilada. An increase on the supply side of things does not help sellers. Period.
Truth #2 - Interest Rates Often Rise in Spring.
It can be documented through recent decades that interest rates do inch up through the Spring. The hikes may not be dramatic, but they can be enough to take some buyers out of the running, or slow down appreciating home values. And of course this should be of concern to you especially if you are also buying.
Bottom Line - If You’re Ready to Sell, There’s No Good Reason to Wait.
The Simple Fact is that market conditions still favor the seller here at the top of 2023. If you’re waiting, if something’s holding you back, let's work out ways to eliminate those obstacles in ways that still work for you!
I’m a solution finder, and I want my seller clients to be able to take advantage of current market conditions.
You can always reach me at email@example.com, fraryhomes.com, or call/text 508-330-3252.
PS - 10 Pinehill Road, Framingham (shown in the photo) is the perfect case study, from Winter of 2022. When I listed this home for sale last January, we very quickly went under agreement and sold the home for $700,000. Unfortunately the new owner needed to sell soon after buying it, and he relisted the home in the Spring. After changing marketing tactics several times, he finally put the home under agreement in mid June and sold the house for $650,000 in July of 2022.