Thursday is the best day to list a home. It's primetime to capture the weekend traffic and aim for a quick sale. The problem buyers - still - face at the beginning of 2023 is very low inventory.
The screenshot above is from my regional MLS (Bright MLS) taken yesterday morning - a Thursday. My Market Watch includes two counties, Montgomery and Howard County, for all price points and all types of homes for sale. Combined, the population is more than 1.4 Million people living in approx. 530,000 housing units¹.
Only 28 new active listings plus 3 more coming soon were added to the market on this week's prime listing day. That is very little.
Low inventory is the No. 1 reason you should not wait until spring to list your home!
Our inventory woes combined with interest rates that doubled year-over-year are responsible for a drop in sales activity in 2022. That is unlikely to change this year. The prediction - and hope - are for rates to stabilize. The labor market is extremely strong, the strongest it has ever been. "There are more Americans working today than at any other time in history."²
Buyers are out there. My clients have been stunned - and disheartened - by how few homes we have to tour, and they are not looking in unrealistic price ranges. Today's buyers are ready to go, they are well prepared, they've been thoroughly vetted and they have their loan officer's on stand-by to facilitate a quick closing if needed.
If you are considering selling your home in 2023, you may want to get it on the market sooner rather than later. Once the days get much longer, and the spring flowers begin to blossom, your neighbor may be thinking of doing the same!
The No. 1 reason you should list now and not wait until spring: low inventory and little competition. Call Andrea Bedard, REALTOR® (240) 593-2860 to get started.
Thank you Joan Cox. We do need more inventory, I have well-qualified buyers and no houses to show them!