With the frigid temperatures we are experiencing this January, is now a good time to sell? The answer to this question appears a couple of different ways. One is simply through what I am experiencing and seeing with homes for sale. In December certain homes were getting very few showings… 5 or less in the month. Those same listings right now are getting 10-15 showings plus and offers – and we aren’t even half way done with January. The second bit of evidence that now is a good time to sell is that the number of homes for sale is significantly less than it was one January ago, and even less than just last summer.
Currently, there are 11,862 homes for sale in the Twin Cities Region. Last January there were 13,107, and last July there were 18,990. That’s a whopping 37.6% fewer homes for sale right now than last July. As of the latest stats Dec 2014 were were at 2.9 months supply in the Twin Cities real estate market. That’s a seller’s market. Combine that supply with an increase in the number of people out looking for a home to buy and that creates an opportunity for you as a home seller. A common misconception is that summer is the best time to sell your house for reasons that are common. My, house will show better in the summer, the garden and flowers will be in full bloom. The kids will be out of school, there will be more buyers in the summer, etc. It’s not a bad time to sell, but the first part of the year and spring is more advantageous for a seller as there is less competition and motivated buyers. Summer, tends to have similar to less buyers as the spring and more homes for sale.
How does this relate to you specifically as someone who wants to sell their home? Find out here, Free Home Evaluation.
You will get a complete analysis of your home’s value and what the market is doing right now in your specific market. All real estate is hyperlocal, so your supply of homes for sale and what type of market it is in your neighborhood and price range may not be the same as a neighborhood or city over. You can also have the same block in the same neighborhood but two different price ranges and the type of market they are in will be different. So, to find out what your home is worth today, how long it should take to sell based on the type of market you are in, how to make it worth more, and the supply of inventory, just go here Free Home Evaluation. Thank you! Travis Erickson RE/MAX Results
