When To Start Selling in 2020: A Guide To The Spring Market
If you’re wondering when the best time of year is to sell, here’s your typical answer:
“Spring is the busiest season, followed by Fall. Summer a lot of people are vacationing. Winter people are focused on Christmas or hybernating. But, people buy & sell all year round.”
This doesn’t mean Summer & Winter aren’t good times to sell. It does mean it’s a good idea to have a conversation with your agent about the pros & cons of selling in that given season.
If you’ve decided the Spring Market is for you, that’s great! But when does it start? It varies a lot each year & is heavily based on supply & demand.
But point blank, the Spring Market starts way before Spring.
So, how do you know when is best to list your property?
My answer depends on what you’re selling. Condos, I’m not worried about waiting until April. Houses & townhouses, probably best to avoid January & February.
Let’s break it down by month.
Avoiding the first two weeks of January is a good idea. End of January is preferable if you have to get your property on the market ASAP. If you can wait, wait.
The first two weeks many people are doing one of the following:
- Battling a lengthy food coma.
- Figuring out how much financial damage they did in December, possibly shocking themselves into re-considering buying property.
- Preparing a 2020 plan – vision boards, business planning, goal setting etc.
- Hybernating. It’s still hella cold out in January…
- Still celebrating the season! I’m Ukrainian & we have Christmas January 7th & 8th. We also have mid January New Years celebrations & the epiphany at the end of the month.
Up for grabs condo sellers! Depending on what property you’re selling & where it’s located, listing in February is perfectly fine. Sure, March & April are busier, but people need to move at all times of the year. Getting a head start with serious buyers who added “find the perfect property” to their 2020 vision boards is a great idea.
A lot of people reach out to me in January for their 2020 real estate plans. That includes beginning their search early in the year. With fewer properties on the market in February, competition can be lower.
Photos make a huge difference when selling a property. They ‘re what drives interest & ultimately traffic. Curb Appeal is high up there as well if you’re selling a townhouse or detached home. If that’s you, I recommend waiting until March to sell – if it’s possible.
Safe zone! Most serious buyers have started looking by March regardless of property type.
Competition is getting up there! This can be both good & bad. More on the market means buyers are out & about. It also means there is more out there for buyers to look at. April is usually considered the optimal month to list.
Serious buyers have probably already started looking. That doesn’t mean the buyer pool is small. Buyers rarely commit to the first property that fits their needs. Many are still looking in May. Other times they come in too low thinking they’ll get a “great deal” & end up losing out on a few offers. Many people scramble to find a property in May so they can still close in the summer when they will have time to move. May is full of buyers & a safe time to list.
Questions about your property? I’d be happy to chat & discuss what factors are at play! It varies drastically based on property type & location alone. These are just general pointers. A one on one discussion with your Realtor is always a good idea!
Lara Stasiw • Real Estate Agent & Home Design Connoisseur
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