About this time every year my phone starts ringing off the hook with sellers wanting to sell now to maximize the momentum of the spring market in hopes of netting more money. But does selling in the spring actually help you get a better price? The answer is – sometimes…
The dynamics of the real estate market are unique each year. Last year for example with the expiration of the tax credit, the spring market was wild with a sharp increase in prices. Those prices then retracted significantly after June 30th. Spring 2010 was an excellent time to sell.
Spring 2011 is different with no tax credit to push buyers into open houses and interest rates that have been low for so long they now appear normal. My sense is we will see a nice bump in sales activity but not necessarily a bump in prices this spring (or this year for that matter). Buyers are still extremely price sensitive and will avoid the multiple bid frenzy like the plague.
My best advice is to look carefully at the timing in your life, rather than the season. Why are you selling? Let’s talk about that, and then determine when is the best time to put your home on the market.
For more information about selling your home, contact me at Brandon@BrandonGreen.comE-mail this post