It is officially Spring and I’m sure you’ve seen Facebook posts and similar news reports about how Spring is the best time to sell one’s home. That’s true! IT IS the best time to place one’s home on the market… but WHY??? It’s simple; nice weather, increased mobility, people in good moods. If you’ve considered selling your home, now IS a great time start planning and preparing to get your home sold.
Increased Buyer Pool.
While Coastal Virginia communities enjoy rather fair climates, winter brings cold temps, occasional snowfall, and many “I don’t want to get out of the house” kind of days. But now, most chilly weather is behind us and pleasant warm weather pulls us out of hibernation. More importantly, it pulls BUYERS out of hibernation, and they are looking to move. They are motivated by still historically low interest rates (about 4.29% for 30yr fixed), the potential of another rate hike in a few months, and wanting to jump ahead of other buyer-competitors, due to a low inventory of available homes. Also, Millennials (who comprised of 35% of all buyers) are expanding from mainly urban residences and are now purchasing single family homes in suburban areas. This is great for most Hampton Roads communities!
Perfect time of year.
Sandwiched between Winter holiday responsibilities and Fall school obligations for the kids, Spring and Summer are without dispute the most favored times to list a house for sale. Especially in the Spring, before Summer pool parties, picnics, and vacations lure your home’s buyers away for some fun and sun… instead of buying your home.
Get started now.
You will begin to see the inventory of homes slowly rise. However, with the inventory still being lower than normal, it is leaning toward a stronger Seller’s market. However, even in a Seller’s market, due diligence is required. Real estate is locally driven and using a professional is critical. I welcome the opportunity to serve you with all of your real estate needs. I look forward to hearing from you!