Tips & Trends for the Flagstaff Real Estate Market:
Past Articles [December 2004]
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Should You Wait Until Spring To Sell Your Home?
Some sellers are averse to having their home on the market over the holidays. However, as things are shaping up this winter it could be an opportune time to sell. As usual this time of year the availability of homes for sale in our multiple listing service has dropped considerably. With a smaller inventory this provides an opportunity for you to move your home more quickly should you decide to sell.
The price you receive for your home is in large part a function of supply and demand. The more homes like yours there are on the market, the more competition you have from other home sellers. When buyers have a good selection of homes to choose from, they tend to be more selective. It can take longer to sell and prices may be discounted.
When there is a scarcity of homes for sale -- called a low inventory market -- your chances of a quick sale at a high price are better. Buyers have less to choose from so they're more willing to make compromises. Prices tend to rise as buyers compete with one another for the limited supply of homes available.
There is a seasonal aspect to our residential real estate market. Spring and summer are usually the period of most intense sales activity. Unless there is a pressing need to sell, many sellers wait until April or May to list their homes for sale. The inventory of homes for sale usually drops off starting in November and doesn't pick up again until late winter or spring. This period of low inventory can be a prime time for sellers who market their homes during the winter months.
This year could provide an excellent opportunity for sellers who choose to list their homes when most sellers are thinking of taking their homes off the market for the holidays. Interest rates are still low and there is no shortage of interested buyers. Buyers are looking through the holidays this year in order to get into a home soon after the first of the year.
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“Mary Monday made the experience of selling my home a genuine pleasure. It delights me to know there are true professionals left in the world.”—BS |
