Market Trend - When to Sell
When is the best time to put your house on the market?
Let us take a look at Real Estate activity over the past 3 years. These series of charts represent the number of new listings coming on the market verses the number of houses that go pending.
You can see a pattern of low verses high activity on this chart. As a seller what does this really mean? Let's explore this keeping in mind "Supply and Demand". The RED line represents the supply and the BLUE line represents the demand.
Increasing buyer pool (Demand)
The yellow shaded areas indicate when buyers are entering the market and the buying process begins. As you can see this trend starts in January and typically peaks in March/April. Conventional wisdom tells sellers that the best time to put your house on the market is spring.
What happens in Spring? (Supply)
Everyone starts to put their house on the market in the spring. The buyer pool starts to decrease. This is the time when most houses are on the market. Buyers have more choices to choose from. However, our buyer market is strong until October.
What about the buyer pool?
Here we see the strength of the buyer pool. In 2013 it started strong and dried up rather quickly. In 2014 it peeked late, but stayed strong longer.
2015 the buyer pool started out strong and still remains strong. In October new homes on the market decreased while the buyers are still out there buying. It appears that our current market is almost as strong right now as it was at the peak of the previous 2 years.
10 Reasons - Why you should consider selling in Winter.