Sellers will begin to gain more leverage as we work our way into the new year. Take a look at this graph which shows how Dane County single family home sales vary with the seasons. Year in and year out, January is always the slowest month for closings, and June is always the busiest. The spring and summer months are the peak months for sales, with roughly 3 out of every 4 closings occurring between the months that span from March to September.
This means buyer activity will begin to increase very soon as we enter the new sales season. In fact we're already seeing a jump in buyer activity due to the recent plunge in mortgage rates. If you're planning to sell, now is the time to prepare your home for the market. That means getting your home ready for the market by late winter or early spring at the latest.
If you haven't already done so, consult with a real estate stager and start making the changes that will help your home look its best on-line and in-person. And when you price your home, keep in mind we aren't likely to see prices increase in the coming year. If you overprice, you risk missing out on your two big windows of opportunity - low interest rates and the new buying season.
For more pricing tips, check out these articles on the selling real estate page at DaneCountyMarket.com:
- Market value versus assessed value in Madison
- Understanding price trends in your neighborhood
- Pricing your home
For more home-selling tips, check out these previous blog articles:
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