Winter can be tough – and 2014 has been one of the worst! Freezing temps, frequent snow – not exactly what home shoppers want to jump out into. But the housing market right now has certain dynamics that indicate it’s a smart idea to list your home for sale before the Spring rush. Here’s why:
1.) You can list your home for sale at a higher price.
While that’s not a carte blanche to reach for the stars, basic economics tells you that in a market with constrained supply and level demand, prices are increasing. In this appreciating market, you should be able to get slightly more than your recent comparable. You can read more on decreasing housing supply in a recent article from Crain’s Chicago Business.
2.) Your home will stand out in the crowd.
Is it easier to get noticed in a group of 10 or 100? Those numbers are extreme, but your listing is bound to get more exposure now with a lower number of homes for sale than when a higher number becomes available. And the latest numbers show us demand is still there.
3.) You’ll be ready for a Spring purchase.
If you’re going to buy another property, you will find yourself in a much better negotiating position if you do not have a current home to sell. A savvy seller can buy themselves enough time on the sale side to find their new home without being temporarily homeless. When all the other sellers list their homes in Spring, you will be ready to strike – and you’re offer will look very attractive to the seller.
Supply constraints will make 2014 a great time to sell, most likely throughout the year. But if you’re looking for your best odds at a quick sale, list your home for sale before market volume increases is a great hedge to take.