WRA Home Sales Graph Without looking at the graphics, in what month do you think home sale closing activity bottoms out in Wisconsin? What month is peak? Are you surprised? What do you think are the reasons for the rise and slide of home sales in Wisconsin? What do you think Florida sales closing data looks like? This is California’s data. Imagine that, the three areas of the country have similar peaks and valleys.
People buy and sell homes when they’re ready. Obviously more people are ready to put their homes on the market in the spring even in states where four seasons is only a hotel chain. In Madison we have to agree, looking for a home is more enjoyable weather wise when we’re not slipping and sliding over ice and up to our knees in snow. Of course with high demand and relatively low inventories early spring to July packs a competitive punch to the spirit of home buyers.
So we know the best time to be on the market is April and May…2016. What now? It’s October 2016 and turning back the clock is still a future fantasy. We live in a real estate reality world. The best time to put a home on the market is always, when you are ready. And there is much more to consider to determine your readiness than how the flowers have grown. An orderly real estate process is more likely when the parties are prepared financially and emotionally. Regardless of the weather, there are market conditions that make fall and winter a fine time to put a home up for sale. Consider how battered and bruised buyers were in the spring, those who came in second, third,…sixth on homes in your neighborhood are educated and reluctant to come in any less than first on the next great home in your neighborhood. Fewer buyers have fewer homes to choose from in October through January. Sure the competition is down, but remember who the buyers are—many of them are more inspired today than they were in the spring. The new buyers in the market are looking at sales price data from June 2016…their spring counterparts were looking at sales price data from June 2015. Guess what happened from June to June? Prices went up. You may not need competition to push price up because the evidence is there to support your asking price….that wasn’t the case 5 months ago.
Put your home on the market when you are ready and be prepared to negotiate with people who know what it’s like to miss out on a great home in their preferred neighborhood.