Tuesday, October 9, 2012
Don’t wait for spring: Sell your home in Dallas now
This is one of the best times to sell in years.
Recently, a reader wrote to me asking if she should sell her home now, in the fall, or wait for spring.
“I always thought the market went quiet in the fall, with everyone focused on the holidays,” she wrote.
True, the market traditionally tapers off and most realtors take their best (and longest) vacations in December.
But conventional wisdom all changes when you have a market like the one we have. We asked Realtor Tom Branch to weigh in:
While the rain drought in the greater Dallas area appears to be over, the number of available homes for sale continues to dry up. Buyers who have been sitting on the fence for two years are finally in the market but are finding few homes for sale.
Many sellers we’ve talked to want to wait until the spring to list their homes. While conventional wisdom is that the spring is the best time to list, I’m going to argue that now is the time rather than waiting until the spring.
Why? It’s about supply and demand.
Currently we have high demand and low supply. Listings are up 2 percent but sales are up 17.3 percent. Homes are selling almost 9 times faster than they are being listed. Days on market are down to 61 days and the average sales price is up 2.5 percent year-over-year.
In the spring, conventional sellers will be listing their homes driving up supply.
Pegasus News Content partner - Candy's Dirt