When do most listings come on the market?

Home Sellers still believe that the best time to compete is when there is the highest level of Inventory However, this year things may be a little different. The Inventory in our local market is still low. Once the snow clears, perhaps this year you may want to reconsider listing your property earlier than usual to take advantage of low inventory.

“In most markets, most years, the optimal time to list is in the spring, so that the maximum number of potential buyers view the home. This year, the conventional wisdom of buying and selling may need to change.  Inventory levels at the beginning of 2017 are at multiyear lows. Sellers now face very little competition.” Jonathan Smoke Chief Economist Realtor.Com. This is a US statistic but comparable to what we are seeing here locally. CREA has similar statistics.

New listings on the Association’s MLS® System numbered 1,215 units in January 2017, falling 10.9% from January levels recorded in 2016. This was the lowest January level in over a decade.

There were 6,550 active residential listings on the Association’s MLS® System at the end of January 2017, down 14.9% from the same time in 2016.

There were 14.6 months of inventory at the end of January, down from 16.6 months at the end of January 2016 and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. *

What we are finding in the market today is that pricing is extremely important in today’s market. Condition and location remain important factors, but proper pricing is key in getting your home sold.

Assist 2 Sell can prepare a detailed CMA – Comparative Market Analysis for you to guide you and advise you on properly pricing your home for today’s market. 

Article Sources          CREA Housing Market Statistics January 2017

                                            Jonathan Smoke Chief Economist Realtor.Com