Should I Sell my Long Island NY Home Now or In The Spring?

By
Real Estate Agent with Douglas Elliman Real Estate in Babylon NY

Should I Sell my Long Island NY Home Now or In The Spring?

Most Long Island NY home sellers are under the assumption that selling their home in the Spring increases their chances of selling quickly because most people look for homes during the nicer weather. Not all true.

1. The fall and winter bring out the serious buyers. Spring time will have a mix of serious buyers and the "just looking" type and it's hard to tell who is who unless you know for a fact they are pre-approved for a mortgage. When someone looks at your house in the middle of the winter, you know for the most part, they are very serious. Who wants to "just look" at homes when it's 25 degrees outside and windy? I opt to stay in those days with a cup of hot chocolate unless I have a serious buyer to help them buy a home.

2. You, the seller, has less competition around you. In other words, there will not be a lot of homes listed during the fall and winter months comparable to yous and that means more pre-approved, serious buyers to view YOUR home.

Here is an example:

Newly Listed Homes in Babylon Village
January 2009: 10
February 2009: 18
March 2009: 21
April 2009: 27

See how the numbers kept creeping up?

Newly Listed Homes in Babylon Village
August: 21
September: 20
October: 7
November 1st Through November 13th: 9

So, October and November took a nose-dive compared witih August and September.

I can understand not wanting to list your home during November and December during the major holidays. It's busy enough as it is without selling your home in the process.

Here is some food for thought:

1.  Think of selling your home like you are running a business. The less competition against you, the better it is for you. Out-smart the competition!

2.  Price your home AT MARKET VALUE. When a home is truly priced at the current market value, it will not take 60 days or more to sell. A lot of sellers go against their Agent's advice and want to price it at above market value. That is NOT going to work for you. The buyer pool is smarter than that and your home is just going to sit and collect cobwebs, not offers.

I always offer No Obligation Comparable Market Analysis. I come to you with numbers, not a sales spiel. If you can't afford to price at market value, then it's not a good time to sell and I will not take a listing priced above market value anyway because yours and my time will be wasted and you'll end up not happy with me in the long run. I want you happy.

Call Jackie Connelly-Fornuff today 631.703.0201 for a market analysis of your home.


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Comments (6)

John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

The whole less competion thing works in a normal market - in a REO driven market, I do not believe the banks are paying attention to the seasons or the weather outside.  Otherwise a very right on perspective.

Nov 14, 2009 11:08 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

I agree with the REO market. In my area, there aren't a whole lot of REO's thankfully John :)

Nov 14, 2009 11:15 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Jackie, Babylon and Babylon Village are beautiful areas to work (and play :)  It was last year I believed that a client of mine told me she got into a bidding war on her new home....I could see why.  It was a small ranch but in such a beautiful section I understand why she wanted it so much!

Nov 14, 2009 02:28 PM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Carole! Yes, there can be bidding wars now and last year. Babylon Village has so many beautiful homes that no matter what the size, can command bidding wars :) The village itself has so much to offer :)

Nov 14, 2009 03:52 PM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Jackie  I aleays tell people I can guarantee that your home won't sell if you don't put it on the market whether it is spring or winter

Nov 16, 2009 12:09 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

I love it Karen! How do they respond to that? :)

Nov 16, 2009 12:39 AM