Around mid-November, I am often asked whether it is a good time to bring a home on the market. I consider the following:
1. Inventory is Low = List Now. Residential real estate is driven by supply and demand. When supply is low, as it is now, Sellers have less competition for buyers. When two or more buyers are competing for the same property, the price is going up.
2. Inventory of Comparable Properties = Need More Data. While inventory is low across the entire market, we must look at specifics. What are inventory levels in your price range and in your neighborhood? Your Realtor will drill down to only the areas and price ranges, which are considered comparable. We do have excess inventory in some categories, so you should be well informed before making the final call.
3. Pool or outdoor amenity is an essential selling feature = Wait until Spring. If your swimming pool or outdoor living feature is an essential reason for anyone to buy your home, you should wait until it is looking its best. If waiting is not an option, I highly recommend providing photos which show just how lovely it looks.
4. High lot value/possible tear down = List Now. New home inventory is low and builders are anxiously scouring the market for good lots in good locations. If your home could be a tear down, take advantage of current conditions and list now.
5. Condo or Villa = List Now. Currently, demand is strong for condos, villas and lifestyle communities.
6. People buy homes every season of the year = List Now. Remember, people will buy homes in every season. Job transfers, promotions, marriages, changes in family situation happen all year. A desirable, well priced home will sell any and every day of the year.
Janet Horlacher, Principal, Janet McAfee Inc.