Looking at historical market data for Iowa City area, it will come as no surprise to learn that fewer homes sell later in the year as in the Spring and Summer months.Does that mean you should wait for Spring before your list your home for sale in the Iowa City area? Lots of sellers make that leap when they think about selling their home and opt to wait until Spring. The question is, are there advantages to listing your home in Fall or Winter that aren’t covered by just looking at the number of homes sold?
Buyers Who Shop for Homes in Fall and Winter are Motivated!
The quick and easy answer to that question is YES. There are definitely factors not covered purely by the number of homes sold at this time of year. The first has to do with motivation. Buyers who are out looking at homes later in the year are typically very motivated. October through December there are usually lots of activities to take up a family’s time. This is the busiest time of the year for families – It’s not a time for browsing homes as buyers do in the summer time when everything is a bit more laid back. If buyers are out looking at homes at this time of the year then they really need a new place to live!
Less Houses on the Market Means Less Competition for Your House
The second part of the equation that’s equally important to you as a seller is the low inventory of homes on the market later in the year. Low Inventory is your friend. As I’ve said in the past many times, every market is good for someone and in this case a low inventory is good for sellers. It means there’s less competition from other houses on the market and that makes it easier for your home to rise above the other listings and get noticed. When Spring rolls around there will be a flood of homes to hit the market in the Iowa City area, making it more of a challenge for your house to rise above the crowd.
Selling real estate in the Iowa City area is about looking at the bigger picture. Before you make the decision to list your home in Fall or Winter it’s a good idea to find out just how active the market is in your neighborhood. Cardinal Realty specializes in helping buyers and sellers in Iowa City, Coralville and North Liberty. Regular market updates are a prominent feature on my blog and I’m always happy to research neighborhoods and provide market information on your neighborhood to help you figure out whether or not it makes sense to list your home in Fall or Winter or wait until Spring.