Here’s why I think this winter will be a great time to sell your home.
When is the best time of year to sell your home? I get asked this question all the time. There’s some seasonality to the Central New York real estate market, but it’s not as clear-cut this year.
Spring is typically the busiest season with the most listings and buyers. The market usually slows down in summer because it’s vacation season, but that did not happen in 2020 or 2021. The pandemic and other external factors caused the market to stay strong.
As we move into winter, I expect our market to be busier than it normally is this time of year. We sell real estate 12 months a year; there is always activity around the holidays, but there are three reasons why I think this year will be stronger:
1. Historically low interest rates. Buyers have a lot of purchasing power, and they want to take advantage of that before rates go up.
2. Low inventory. A lot of buyers have not found what they want, and they will continue to look if they are motivated. Loan officers are doing a lot of pre-approvals even at this time of year. That’s a good sign that demand is still strong.
3. The labor market. A lot of businesses are looking to fill positions. When they do, that new employee will need a place to live because oftentimes they’re relocating.
If you or someone you know is selling during the winter months, don’t be discouraged and think you need to wait until spring. It’s still a very good time to sell. If you have any questions or topics you’d like me to do a future video on, feel free to reach out via phone or email. Happy holidays!