Selling Your House Now Is Not A Bad Idea At All

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So many prospective sellers are unsure of the best time of year to sell their home. Sure, there are more buyers lurking in the warmer months but that is not to say that inventory does not move at all during the fall and winter months. In fact, very surprisingly to many, there is only a small difference in the numbers of closed and pending sales that take place in the summer versus winter.


Fewer, But More Serious Buyers

While there are fewer buyers out there seeking their dream home beginning September onwards, there are still buyers who must buy a home. In fact, it turns out those buyers are the ones who are more likely to be serious about their purchase. One of the advantages to buyers who are in the market during off-seasons is that mortgage lenders are less busy than during other times of the year. These are often buyers who want to find their home, make an offer and move in quickly and efficiently.

Not Too Much Difference Between Mid-Year and Year-End

Looking at the sales in our area last year, the 2010 numbers clearly demonstrate how there is not much difference in the cooler months compared to the warmer time of year when looking at homes that come off the market in pending or closed status.

June 2010: Of the reported 14,530 potential units that were offered for sale, 1,481 were removed from the market after going under contract. This translates to 10.1% of the total inventory of homes that came off the market.

September 2010: Considering the same factors, 14,665 units were listed for sale in September, of which 1,339 of them were removed from the market after going under contract. The total percentage of inventory removed during this month was 9.1%.

October 2010: This month the numbers were almost identical to September, with 9% of total inventory coming off the market after going under contract.

November 2010: Again, 9.2% of the inventory was removed from active listing status in November, demonstrating the same sale to pending ratio for several preceding months.

December 2010: What is considered one of the coldest months of the year in many markets and what many would believe is the heart of the “off-season”, the total percentage of inventory in December that changed to pending status was 8.6%.

What Do The Numbers Mean?

Even though the number of sales may differ, the main thing to keep in mind is that the ratio of homes sold or those that go into pending contract status typically remains about the same throughout the year. As you can see in 2010 in our market, as the inventory moved throughout the year, the number of available properties decreased significantly but the percentage of houses going under contract stayed about the same.

With only a 1.4% difference between what most would consider peak season in June versus what many perceive to be the worst time to sell, it is clear that buyers will buy despite the season and sellers should continue to list their homes no matter what season it is.
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Regardless of where a property is sold, there is a moving economy and life must continue. People get new jobs; sadly there are layoffs in some cases, families increase in size and financial situations change. There will be a number of reasons that many people will need to sell or buy a home regardless of what time of year it is. So to answer one of the most frequently asked questions, “when is the best time to sell my house?” – the best time is NOW.