Why Waiting To Sell Your Home In The Spring Will Cost You Thousands!
The kids are back in school, the weather is cooling down, the holidays are quickly approaching, and the last thing that you want to do this time of year is to pack up your home and move. You are probably thinking about unpacking this time of year… The box of winter clothing and the Christmas tree.
But if your plans include selling your home in the next half of year and you are waiting for the exciting spring market… you could be loosing a lot of money while you wait. Let me show you what I mean.
Below are the home sale stats for Loudoun County in 2007 which was during a declining market. Notice, that during the spring there are many more homes that sold compared to October. Now, look at the 2008 stats.
If you would have placed your home on the market to sale in October 2007 you would have had less of chance to sell it since less homes sold during that time period than compared to April of 2008 (THE SPRING MARKET). However, if you would have sold it during October of 2007 you would have netted an average of $40,000 more on your home! Some would consider this worth moving during the holidays for.
In other words, don’t confuse more activity in the market with higher prices. You must remember that currently we are in a declining real estate market. Though there are months that are more favorable to sell, the prices are rarely increasing making the current time (whenever that is) the most favorable time to sell your home.
There is another reason to move during the fall and winter… Less competition since fewer people try to sell during this time. If you are considering selling in the next 6 months I would encourage you to consider going against the flow… Set yourself apart from others and give yourself a chance to net more money than you will in the spring.
Stat charts where created by daar.org.
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I have been telling my clients the same thing. Though not many want to hear it. Only time will tell if you and I are right. Sell now or wait until this economic mess gets cleaned up – it could take years.
Thanks for this information. nice article.
hmmm, Jackson you are right …. this was quite nice guide guys, thanks for the sharing
Yeah I’m wondering what the data showed for October on that, it would be interesting to watch that data and see where it goes over the next 18 months.
I would rather wait for 18 months to see how the market comes up from this recession. Just lost faith in the data.