So, when is the perfect time to list your home? Spring, Winter, Fall, Summer? According to an analysis done by Redfin, now may be a perfect time. Redfin, a national brokerage, analyzed over 7 million homes listed across 23 metro areas over the last 4 years that shows some benefits to listing in the winter time or now, early spring. Redfin tallied how many homes went under contract within 30 days from list date and how often they sold for more than their list price to see if any of the four seasons shined above the rest. The company found that spring has a slight edge for sellers. Here is an excerpt from their report by Alex Starace:
“As conventional wisdom would predict, spring was the best time to list a home, but just barely. Spring offered the highest likelihood of selling above list price and of selling within 30 days, but winter, the supposed slow season for real estate, was a close second.
Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.
While winter can get a bad rap, it’s not a bad time to list a home. “You may have fewer people looking to buy, but those who are looking are serious,” said Michelle Leader, a Redfin real estate agent in Oklahoma City. “Buyers that time of year often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”
The other benefit of listing in the winter is less competition from other sellers. While spring can see a rush of homes coming on the market, homes that list in the winter are much more likely to stand out, said Leader.
Among homes listed in summer and fall, the key goals of selling quickly and for above list price were achieved notably less often. Forty-one percent of autumn listings sold in 30 days or less, and just 14.7 percent sold above list price.
But, as the numbers indicate, listing at the start of the new year can work to a seller’s advantage. Typically, sellers assume snow and inclement weather in January and February are major barriers to winter home shopping. However, while winter storms can cause a delay or two, most cities known for snow also have effective plowing systems and residents who are comfortable tromping around in winter boots.
In fact, weather seems to have little to do with the seasonality. When broken down by metro, winter and spring maintained their top spots consistently, even across markets with weather as varied as Los Angeles, Boston and Atlanta.”
Now granted, Idaho was not on their research radar, but the way the market has been lately, we have an influx of buyers and a lack of inventory. If you have been waiting for spring to list your home, now may be the golden ticket for a fast sale! We are seeing homes being listed one week and under contract the next. I offer free home evaluations, to give you the best idea of what your home is worth in this market.
Jennifer Kunz-Sales Associate Silver Peaks Realty
*Excerpts taken from Redfin.com blog writer – Alex Starace