If you’re thinking about putting your Barnegat home on the market, maybe you should do it soon and not wait for Spring.
Whats Your Barnegat Home Worth?
Many people believe that selling their Barnegat house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher price.
Historically, this made sense. However, today’s real estate market is not following the rules of the past.
The National Association of Realtors (NAR) measures buyer “foot traffic” each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor® (based on the number of lockboxes used). The data reveals the number of buyers out actively looking for a home, not just window shopping on the internet. NAR explains:
“Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”
According to the latest Foot Traffic Report, buyer traffic is greater now than it was during this year’s spring market and there are more buyers out now than at any other time in the last five years (March of 2012).
The chart below shows that buyer activity over the last three months (blue bars) was greater than it was during this past spring market (green bars).
Bottom Line
If you are waiting for next spring to list your Barnegat home because you think that’s when the buyers will be out in force, perhaps you should reconsider. Buyers are out right now!
As always, thank you for your time and feel free to get in touch if you have any questions about buying, selling or investing in real estate in Barnegat. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County
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