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LISTING IN THE WINTER

Thu Feb 20

Thanksgiving has passed, the weather has turned out cold  and everyone has their mind on the holiday season as the year comes to an end. For the residential real estate industry, that means sales go quiet.

The seasonal real estate cycle typically sees a decrease in buyer demand during the last couple months of each year, as people turn their attention to family gatherings and holidays and wrapping up projects at work before the new year.

Where you’ll see the biggest change in sales over the ebb and flow of the seasons is the number of days a property is on the market. Realtor.com reports the U.S. housing market hit its lowest median days on market in June 2016 with 65 days, climbing to 89 days in December 2016 and hitting its peak in January 2017, with a median of 96 days on market. The trend appears to be repeating itself. The housing market hit its low for this year again in June, at 60 days, and is now climbing up, with the most recently reported number being 73 days for October.

But fewer active buyers and more days on market doesn’t mean you can’t sell your house during the winter months. Especially if you’re pressed for time and need to sell quickly, particularly hot markets see many eager buyers looking to snatch up available properties while the competition is still recovering from Thanksgiving dinner.

If  you are not listed you surely will not sell. Less homes on the market in the winter does give a seller an upper hand. 

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Category : Real Estate News
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