The real estate market has always been somewhat seasonal, with prices peeking in the late Spring and early Summer and declining in the Winter. With this knowledge many sellers want to list their homes in the Spring. So when is it best to list to get the most for your home?
This chart shows the % change in price from the previous month. Prices are based upon the closing date, not the date the homes go under contract, therefore the data is a month behind.
As you can see beginning early in the year prices start to increase each month until summer and then decline. If given a choice, I’d list my home no later than March. That would give me 2-3 weeks to find the buyer (based upon the average Days on Market) and then a month to close, putting me closing in mid to late April. To meet that timeframe you would need to plan and prepare NOW.
I also included the average monthly mortgage rate on the chart. It’s interesting to see that when the rates climb the next month’s prices decline and vice versa.
Last week I had more buyer calls on my listings than I ever have. Subsequently I saw an article confirming what I saw. February is picking up and showings are still up from last year. Looking forward to working with you when you decide to buy or sell.
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