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The Best of Bellingham By Shannon Neufeld

Sellers - there is no better time to list than now... Winter 2015

Low Home Listing Inventories and Ready Buyers Make Selling in Late Winter Ideal

While intuitively late spring and summer feel like the best time to list and sell a home, history, time on market, and sale statistics indicate just the opposite. The National Association of Realtors reported in December 2014 that a two year study revealed that nationally, February is the best time to list a home (74% selling in the next 90 days). Sellers during the late winter months not only net a higher percentage of their asking price, they also sell their homes faster.  This means that right now we are in the window of opportunity for those who want to list and sell.

In Whatcom County, Market Inventory 2013-15March may be the best month to list a home for sale. Judging from listing data (see chart), collected over the past two-plus years, the greatest dip in inventory occurs in March each year.

Rudimentary economics tells us that for those who are selling any product, it is advantages to be in a market where you have great demand and less competition. Scarcity and demand can result in better prices for the seller and in most cases faster sales.

In Whatcom County, while many buyers have been "window" shopping during the past months they are now primed to use our historically low interest rates to make a purchase. This fact, combined with the Millennial generation now coming of age, means that more qualified home buyers are ready and able to act. In addition, the scarce number of homes on the market means less competition for those trying to sell. Note, that inventory numbers jump in mid-April. During the next month(s), advantage still goes to the savvy seller.

As the chart shows, housing/listing inventory does not typically spike until mid-April. Until then, buyers have less options available and are more likely to consider all homes in there price range; your listing does not get lost in the 100s of others. Exposure is best during this time period leading to faster, "easier" sales.

If you are trying to decide whether or not now is a good time to sell, give me a call and we can talk about what your home could sell for and what you might pocket after expenses. 

CALL OR EMAIL ME TODAY TO LIST YOUR HOME - phone 360-393-1183 or email: Shannon@MuljatGroup.com

 

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