Tag: Home Sellers

We hear so much about the “spring market” that it’s easy to think spring is automatically the time to sell your home. But the truth is … real estate, and life, doesn’t necessarily follow the seasons.

The right time to sell has much more to do with your plans, your circumstances, and the market you’re selling into than the month on the calendar. Sometimes, we simply need to be reminded of that.

And right now, our local market continues to favor sellers … 

According to current SmartMLS data for Northern Fairfield County, we have approximately 3.4 months of available inventory — still well below the five to six months generally associated with a balanced real estate market. Sellers are also receiving an average of 102.6% of their asking price.

So, what does that mean if you’ve been thinking about selling?

Simply put, there are still fewer homes available than we would typically see in a balanced market … and well-priced, well-positioned homes continue to attract buyers.

Months of inventory is one of the ways we measure the balance between supply and demand. Generally, the lower the number, the more the market favors sellers; as inventory increases, buyers typically have more choices and negotiating power. At our current 3.4 months, we remain on the seller-favored side of that equation.

Of course, real estate markets are always changing. Inventory, buyer demand, home prices and interest rates all play a part. As more homes become available, buyers gain choices and sellers may face more competition. Changes in interest rates can also affect a buyer’s purchasing power — influencing not only what buyers can afford, but sometimes how much competition there is for a home.

That’s why understanding today’s market, rather than waiting for a particular season on the calendar — matters.

Don’t Count Out the Fall Market

Labor Day has passed, children are back in school, summer vacations are winding down, and life is settling back into its normal routine. But that doesn’t mean buyers have stopped looking.

People move for all kinds of reasons. A new job. A growing family. The desire to be closer to children or grandchildren. The decision to downsize. The need for more space. Or sometimes, simply knowing that it’s time for a change.

Life doesn’t always follow the real estate calendar — and neither do serious buyers.

Those who have made the decision to move are still watching the market and waiting for the right home to become available. And with inventory remaining relatively limited, your home could be exactly what someone has been waiting for.

Should You Sell Now or Wait Until Spring?

There isn’t one answer that’s right for everyone.

Your home, your price range, your town, current market conditions, and most importantly — your plans all play a role.  Don’t let the idea of a “spring market” cause you to postpone a move you’re otherwise ready to make.

If you’ve been thinking about selling, now may be a very good time to explore what that move could look like — especially while our local market continues to favor sellers. And if you know you’re ready for a change but aren’t quite sure how to get from here to there, that’s where a conversation and a good plan can make all the difference.

I understand that personally. Nearly six years ago, a change in my own life meant making a move as well. I knew it was the right decision, but that didn’t make the actual process of moving any less overwhelming. Sometimes knowing you’re ready for a change and feeling ready to take all the steps that come with it can be two very different things.

That experience gave me an even greater appreciation for just how personal a move can be, and why having a plan can make such a difference.

After more than 24 years in real estate, I know that moving is about much more than putting a house on the market. There’s often a lot to consider … what your home is worth, what you may need to do before selling, where you’re going next, and how all of those pieces come together.

You don’t need to have all the answers before you start the conversation.

If you have a plan — or need help creating one — I’m here to help you make your move.

Until next time,

Laura

Real Estate Is Local. Experience Matters.