When Should I Sell? When Should I buy? (November 2, 2019)

    Every year, we get the same questions.  When is the best time to buy or sell your home?

    Factors to consider:

    Usually there are fewer homes on the market going into winter, but, there are more homes on the market now than there were in the spring. Good for the buyer.

    There are likely to be fewer buyers competing for the same home. Good for the buyer.

    Interest rates are very low, and may climb.  This translates into more buying power, and more buyers who can afford a certain home. Good for seller and buyer.

    There are many buyers who were frustrated in this year’s competitive market. Some are still out there looking for their perfect house. New listings every day. Good for buyer and seller.

    Now, let’s look at the numbers….

    I calculated how many Lincoln homes (not new construction) closed (finalized the purchase), by month, for the past twelve months. I then divided by 30 to see how many homes sold per day.  I’ve done this every year for the last decade or so, and the numbers stay fairly consistent.  Please keep in mind that a home that closed in April, likely went under contract in March, almost always in the previous month.

    So, you can see from the chart that homes are sold every day in our market.  There is a dip to about 7 per day in December and January, and a peak about 14 per day in July (went under contract in June), so there have been about twice as many homes sold per day during peak months, but sales never grind to a halt.

    Please let us share our expertise and data on homes similar to yours, in your neighborhood and price range.  We will probably conclude that it is OK to list your house now and not wait til spring.

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