So you have finally gotten that last home fixup to get your home ready for the market but it is October. Do you wait for the “Spring” Market? My simple response is absolutely not. The fourth quarter is absolutely the best time to sell your home!
1- Inventory is at its lowest so Buyers have fewer choices. I often “PUSH” the price point at this time of year because of this. Homes sell faster now for the same reason.
2- We still have a good number of frustrated Buyers who have not yet found their new home. Especially in 2019, inventory levels have been at historically low levels. The number of available homes for sale in the Greater Danbury Area has been DOWN 40% compared to 2 years ago. The number of sales, however, has remained about the same.
3- We sell homes 12 months a year. The percentage of active inventory vs new deposits favor Sellers during the fourth quarter. Using Danbury, Brookfield, Bethel, New Fairfield, Newtown and New Milford for this comparison we get the following results.
New Deposits vs. Active Inventory
October 222/1,096
November 204/971
December 159/822
January 158/820
February 143/867
Compare this to May, out most active deposit month, with 291 new deposits and significant more homes on the market.
4- It positions you as a strong Buyer yourself going into the Spring Market. You can make your listing, contingent upon finding suitable housing. Our fear is that you find a home you love, then put your home on the market and loose out to a Buyer who is better positioned. Many of these spring listings sell with multiple offers and the person who either has an offer-not contingent on the selling of their current home OR contingent on the successful closing of their present home which is under deposit wins. Sellers will not entertain offers where your home still needs to be listed and sold. New listings are coming on the market every day of the year and even if you need to go into temporary housing before you FOREVER home comes on the market it is still a stronger position from which to negotiate.
5- Your home shows its best during the holidays as you decorate for the festivities. Have family occasions and parties planned? We can always block out those dates so you can enjoy these occasions.
For more information about the timing of listing your home OR a consultation on preparing your home for market, give me a call at 203 994-3666. The best time to list your home is WHEN YOU ARE READY. Listing during this fourth quarter is a WIN/WIN.