The kids are back to school, vacations are over and homeowners begin to wonder whether they should list their home now or wait until spring. Just because summer is over, it doesn’t mean fall isn’t a great time to list your home. Real estate is sold 365 days a year and fall is actually a great time to sell. Anyone that tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to help you adapt to the current season and market your listing appropriately. Here are 5 great reasons for selling your home now vs waiting until spring:
#1: We are still experiencing a seller’s market. A seller’s market exists when there is a large number of ready, will and financially qualified buyers and there is a shortage of homes for sale. Listing now often results in a buyer paying market value or more.
#2: Spring and summer are typically high seasons for selling your home. This means the competition is much greater April through August. Listing your home in September, October or November means you have less competition for buyer attention.
#3: Buyer’s who have been looking all summer are much more serious. This increases your negotiation power in getting the best price for your home. “Tire kicker” buyers disappear and people who are very serious about moving are anxious to seal the deal.
#4: Let’s face it, Maine is beautiful in the fall. Curb appeal is hugely important in selling price.
#5: If you’ve been keeping up with real estate this past year, you know that rates remain low but are expected to increase. Because of lower rates, buyers are able to afford more expensive homes. If you wait until spring to list, it could eliminate many buyers from the market and therefore you stand to lose potential buyers and money. This could be an important consideration in today’s market.
**Anne-Marie has been a top-selling broker in southern Maine for 15 years. She has the experience and community connections to deliver successful real estate transactions. She brings her clients service during their transaction, but also personal service beyond the sale. Click here to see Anne-Marie’s Reviews. McKenzieHomeSales@gmail.com or 207-831-9157
The Maine Association of Realtors report a 7.87% increase in single-family home sales compared to January of 2016. “Mortgage rates remain historically low, households have confidence in their job security, and buyers are searching now in anticipation of moving this spring. The time is right to place your home on the market. Buyers need more housing inventory. Statewide, the inventory of ‘for-sale homes’ is 24% lower than this time a year ago,” according to Greg Gosselin, Owner Broker of Gosselin Realty Group in York.
Compared to October of 2015, home sales have increased 5%. Home sale prices have also seen an increase. The median home sale for October 2016 was $192,500, a rise of 2.67%.
Ed Gardner, President of The Maine Association of Realtors adds, “The October statics are indicative of continued stability in Maine’s real estate markets. Despite the recent upward movement in mortgage interest rates, the current rates are lower than at this time in 2015 and remain at historically low levels.
According to the Maine Association of Realtors, 1,732 homes were sold in Maine during the month of September – a 6.13% rise since September of last year. The median sales price for those homes reached $188,038, an increase of 1.4%. The market shows “continued stability,” according to Ed Gardner, the 2016 President of the Maine Association of Realtors. “Should sellers take their homes off the market and wait through the holidays? No, life circumstances bring a steady stream of buyers in to the marketplace. Colder weather tends to bring out the more serious buyers and investors who want to take advantage of tax benefits prior to year-end.” Good to know! Contact me to take advantage of the solid real estate market in Maine!
According to the Maine Association of Realtors, 1,840 homes were sold in Maine last month. Sales rose 10.78% and the median sales price for those homes reached $197,000, an increase of 5.35%. Ed Gardner, the 2016 President of the Maine Association of Realtors says, “Maine’s real estate market, overall, is healthy due to continued buyer confidence and very low interest rates. We are experiencing movement in all segments of the market, including seasonal properties and land parcels. Real estate continues to be a great long-term investment – and quality of life investment.”
The Maine Assocaition of Realtors reported 1,710 homes sold in July 2016 compared to 1,749 in July 2015. Prices increased, however, at a rate of 4.66 in one year. The median sales price also rose to $197,700 from $188,900. This indicates that half of the homes were sold for more and half sold for less.
Realtors across Maine reported 1,960 transactions of existing single-family homes during the month of June, leading to a sales increase of 9.62 percent in the past year. Sales prices for those homes rose 5.49 percent to a median sales price of $198,000.
Sales of single-family existing homes in Maine continued their upward climb during the month of February. Maine Listings reported a 21.72 percent jump in sales over the past 12 months.
The Maine Association of REALTORS just released monthly statistics which indicate a 22.68 percent jump in sales compared to one year ago. Sales prices also continued their upward trend; the median sales price (MSP) for the state rose 4.35 percent to $180,000 compared to November 2014.