In our area, Northeast Massachusetts, inventory is low, low, low right now. As we are almost ½ through the month of February sellers should start placing their homes on the market now. By doing so, those homes will be the homes that are at the closing table in April & May. These homes will have less competition than the properties that wait until the end of March, April & May.
You all know I am a fan of KCM and the information they share in the Real Estate community. So, today I am sharing their #1 reason for selling your property before the Spring market.
Do you have a #1 reason?
The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:
Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.