Why Spring is a Good Time to be a Seller
It's winter! It's cold and miserable outside, the days are short, snow is everywhere and all you want to do is go home and snuggle by the fire place! Home buying? For most people, it can wait... You'll often hear buyers say that the spring time presents more opportunities, more sellers come on the market in the spring and there's more selection. True. We typically see a significant increase of homes that enter the market - and with that, an increased buyer activity. The two factors seems to be working well for sellers - at least historically. While more competition from other sellers mean working harder to capture the buyers' attention - the balance of increased buyer activity mean less days on market, and higher Sold to List price ration!
Indeed data shows that during nearly 50% of all the transactions annually, are signed (contract entered) during the four spring season months, Mach through June. In addition, data shows that the average days on market (a key indicator in the real estate market), is 26% less during the same time period (March -June) compared to the annual average.