Thinking about putting your home on the market this year? Selling before the end of the first quarter is an excellent strategy that often comes with a host of benefits. However, many homeowners are unaware of the potential advantages of selling during the “off season” and avoid listing due to common misconceptions about the market. Here, we share a few of the perks that you may enjoy if you list and sell in quarter one.
Buyers are on a timeline
Unlike the summer months, buyers browsing in the first quarter are usually less inclined to take their time with numerous showings. Quarter one is a busy time of year for most folks, as the holidays have just ended and their schedule for the year ahead is filling up. As a result, most potential buyers who arrange tours during the winter or early spring months are more likely to be serious about moving forward.
Home listings and sales tend to slow down during the first quarter, which may help your property stand out to potential buyers. Even in competitive areas like Boulder, the first part of the year may be a more favorable time to list and sell your home. When there’s less inventory to explore, your property will likely receive more attention from serious buyers. This is a favorable situation for sellers, since you may be presented with multiple offers to consider.
Buyers may have additional funds to work with
During quarter one, buyers often have more funds to allocate toward homebuying. This is typically the result of end-of-year bonuses or payouts, but it’s also a common time of year for major corporations to arrange employee relocations. Executives who are transferring to a new location are highly motivated to find new homes, and they also likely have company-paid relocation funds to ease the financial burden of house hunting.
Faster time to closing
During the first quarter, lenders are often going through a slow period. Since the homebuying season doesn’t explode until summertime, both the buyer and seller may benefit from reduced time to closing. This is a win for all involved, and can eliminate the stress of dealing with a sluggish closing process.
Listing before spring is a wise decision. Regardless of when you decide to sell, working with a seasoned Realtor who’s intimately familiar with your city will make all the difference in your selling experience.
By Jennifer Egbert, Porchlight Real Estate Group. Jennifer is a Realtor at Porch Light Real Estate Group and specializes in Luxury neighborhoods, home builders and current market conditions. Visit jenniferegbert.com, e-mail firstname.lastname@example.org or call 303.619.3373