AUGUST 2017: Sell Now or Wait for Spring 2018?
Most homeowners we speak to this time of year feel the typical selling season ends in September due to the start of school, and they are best to wait until the following spring.
Prior to the technology age and the “I can have it now” world, this was true. Most residential real estate transactions were seasonal, buyers did not come out of their homes until the sun was shining, the days were longer, and when they could see homes. These were the days when each home was represented in the Multiple Listing Service (MLS); a bi-monthly printed phone book of 3”x 3” black and white boxes containing 100% of the information one could see about a home, provided they were sitting with their Realtor holding their proprietary coveted book. The only other way to see the home was to physically get out in the blustery weather and see the home with a flashlight after work.
Fast forward to today, buyers, consumers, shoppers, and real estate hobbyists can now see 32 professional photos, videos, virtual tours, drone tours, and can gain pages of data, all from the comfort of their own home sofa and a laptop, or better yet on their smart phone at work during lunch or while they are out and about. When new homes hit the market between September 1st through March 1st, the home will be displayed on thousands of websites and pushed to thousands of consumers who have specific searches established to watch homes in your community.
Today, the months of September and October rival July and August in real estate activity due to the fact that 35% of our active society is on vacation and does not feel the urgency to buy before school starts or prior to the weather turning. Buyers today know the candy jar refills each day, and those who wait, may be rewarded with the crown jewel that hits the market the week of Thanksgiving.
Finally, with the limited inventory of homes, buyers are willing to wait and recognize that the perfect world of being settled prior to the beginning of school is not as important as making the right investment and finding the best home.
So for homeowners in today’s Portland real estate market, any time is a good time to be a seller!