With the start of a new year, I think it’s important to consider where we are in the market. The supply side challenges facing the region today are well beyond anecdotal; it’s come to a point where they are adversely affecting the ability to transact. Even factoring in the traditional holiday season lull, showings and deals are noticeably down. This isn’t because buyers aren’t interested…there simply aren’t listings to show.
I mention this because sellers always ask, “Is now really a good time to sell?” It’s the Christmas break, or it’s the deep winter, or maybe I should wait for spring. The answer to that, of course, is none of us have a crystal ball. If you sell a home today for $1,000,000, it may be worth $1,200,000 in two months. But, it may also be worth $800,000. None of us know these answers.
But the one thing that I can say definitively is the market has never been stronger than today. The demand has never been higher, the supply has never been lower. So, if you are going to choose a date to list your home, today is the best day.
Yes, spring is historically strong, but there is always more competition amongst sellers come springtime. And, certainly, the new Omicron variant creates challenges, but today’s Realtors have many digital and online resources at their disposal to promote and review properties.
I understand that some homeowners will wait for things to evolve and hopefully calm down, but, with respect, I disagree with that approach. We always need to remind ourselves that you don’t need more than one buyer for a home. It only takes one purchaser to sell a home. Right now, there are tens of thousands of buyers waiting for that new listing. So, if you are thinking of listing your home, don’t wait. There has never been a better time to be a seller than right now.