The timing of the Spring real estate market is something every seller ponders in anticipation of putting their home up for sale. We get asked about the Spring market and whether or not they should wait for it to arrive almost daily. Our answer is always the same. We’ve seen the Spring market start as early as January and as late as Mother’s Day. So many factors effect when it will arrive; the weather (especially in MN) current inventory, mortgage rates, the state of the world, you get the point. So before we can answer the question, should I list now or wait for Spring? We need to know what your goals are. When do you need to move? Do you have the time and the flexibility to wait for the Spring market to arrive?
Why the Spring market? Traditionally the Spring market is popular because the weather starts to warm up, the holidays are over and people are chomping at the bit to get out of the house. In addition, starting the closing process now allows them to be moved in before school starts. And winters sets in again. It also tends to have more transactions that go into multiple offers than any other season.
So what can you do if you have the time and flexibility to wait for the Spring market? Since it typically takes a few months to get a home ready for sale, starting now makes sense. Here are a few things you can do. Make your home as marketable as possible, declutter, paint and update key rooms like the kitchen and bathroom. Selling your home “as-is” promises quite a bit more work than todays buyers are willing to take on. Price it right and stay competitive. Because even in a hot market it’s better to be in line with other properties and attract multiple offers than pricing it to high.
If you’d like more information about the Spring market and what you need to do to get your home ready for sale, contact our team. We’d love the opportunity to work with you.