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Last year in our Hennepin County market, there were about $7.5 billion of sales throughout the year. When you look at the relationship between sales and active listings on a chart throughout a year, it looks like a bell curve—the year begins low, peaks toward the middle, and then drops back down at the end.
This bell curve is interesting because about the same number of properties that are listed end up going pending, meaning they go under contract, through the year. If 100 properties are listed in January, for example, about 80 of them sell. If 120 properties are listed in February, about 100 of them sell.
So are you better off selling now or waiting until the spring market?
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Most people think that most homes sell in the springtime, but they don’t realize that January and February can also be great times to list. If the same percentage of homes sell in January as they do in spring, and there is less active inventory in January, supply and demand suggest that you’ll have less competition by selling in January than you will at busier points of the year. You might even be able to get a better price.
January and February can also be great times to list.
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If you have any questions about selling your home or when is the best time to do it, reach out to me. Let’s take a look at your situation and see what we can do to help you make the best choice.
