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Nov
15
List Now or Wait?
Posted by: Nick Will
Tagged in: Untagged
We often get asked by people across the country this time of year: should we put our house on the market now or wait until the spring? Here's our answer now that we're telling people and posting on other sites nationally where we maintain a presence:
Depends on where you are! In general, many people will believe that "it's not a good time to sell in the winter months" and will take their homes off the market until the spring, which will only reduce the amount of competition on the market for sellers who remain on the market.
Also, people need to move throughout the year. Jobs always require moving. The 4Q and preparations for 1Q in the new year typically require many relo clients to find homes to close by the end of the year. December is usually an active month for resales -- not a slow month -- in most parts of the country, certainly I can speak for the Houston area and particularly the north Houston area. If your house isn't on the market, you won't sell it! You can't sell it if you don't list it; you can't sell it if you don't show it.
One important caveat is that buyers in general, and this is true in the major suburban Texas markets and most metro markets in the U.S. -- buyers don't want "projects." Investors want projects, but they also want to pay pennies on the dollars. So if you have a quality property, and particularly a property with a pool or other commonly desired amenity, then you're going to fare better in "off season" months (or any time of year frankly). Quality properties will typically spend less time on the market and will hold value better than properties that have not been as well maintained or are not as well updated as other properties against which they are competing in the same market -- so start by looking at your own property.
Find someone with experience and expertise in your market to advise you about a) how your property make perform in comparison to other properties in your market, and b) what the particular dynamics of your market are right now and are expected to be through the coming months.
But our general advice is: if you want to move, don't delay, compete aggressively and get it on the market! It's not a bad time to sell. Good luck!
Nick Will is Managing Broker of Lelda Will Properties, the private practice of Brokers Lelda Will and Nick Will, and of Will & Allen REALTORS(r), the brand under which their agents practice.
Depends on where you are! In general, many people will believe that "it's not a good time to sell in the winter months" and will take their homes off the market until the spring, which will only reduce the amount of competition on the market for sellers who remain on the market.
Also, people need to move throughout the year. Jobs always require moving. The 4Q and preparations for 1Q in the new year typically require many relo clients to find homes to close by the end of the year. December is usually an active month for resales -- not a slow month -- in most parts of the country, certainly I can speak for the Houston area and particularly the north Houston area. If your house isn't on the market, you won't sell it! You can't sell it if you don't list it; you can't sell it if you don't show it.
One important caveat is that buyers in general, and this is true in the major suburban Texas markets and most metro markets in the U.S. -- buyers don't want "projects." Investors want projects, but they also want to pay pennies on the dollars. So if you have a quality property, and particularly a property with a pool or other commonly desired amenity, then you're going to fare better in "off season" months (or any time of year frankly). Quality properties will typically spend less time on the market and will hold value better than properties that have not been as well maintained or are not as well updated as other properties against which they are competing in the same market -- so start by looking at your own property.
Find someone with experience and expertise in your market to advise you about a) how your property make perform in comparison to other properties in your market, and b) what the particular dynamics of your market are right now and are expected to be through the coming months.
But our general advice is: if you want to move, don't delay, compete aggressively and get it on the market! It's not a bad time to sell. Good luck!
Nick Will is Managing Broker of Lelda Will Properties, the private practice of Brokers Lelda Will and Nick Will, and of Will & Allen REALTORS(r), the brand under which their agents practice.
List Now or Wait?