Here’s why homeowners may have better luck selling in early Spring
It was only a few months ago that there was a severe shortage of starter homes available in Rhode Island, according to the Rhode Island Association of Realtors. With the sun starting to peek over clouds more frequently, J.Christopher Real Estate Group warns that Spring typically coincides with a spike in real estate activity that makes the market more competitive for home sellers.
Before you finalize plans to list your home later in the year, Jarrod C. Lewis, owner of J.Christopher Real Estate, encourages homeowners that they may want to move up their listing date to the first weeks of Spring. He said this will reduce the chances of your home being ignored in the wave of competitively priced homes.
“In recent years, home sellers have gravitated towards selling their home in May and that seems to work out for many people,” said Lewis. “The influx of available homes also means that sellers need to price their homes competitively, especially if they have not done updates to modernize their home.”
Here are some reasons why early Spring may be the best time to list your home.
- Many renters will have extra cash from their tax refunds that can be used for their down payment.
- Home sellers listing their property in the first weeks of Spring will face less competition because it is still the winter, a season that doesn’t typically see too much real estate activity.
- Buyers may want to get a head start on buying a home because they also will face more competition for starter and mid-priced home. With less competition, they can avoid a bidding war with other buyers.
- Grass, leaves, bushes, and trees start looking alive which provides good scenic photography for your property, and can lead to a quicker sale. Upkeep is usually kept to a minimum as well because leaves are just beginning to sprout.
- Realtors that are brokering both sides of the transaction can give you undivided attention because there are less tour requests happening.
- The temperature on some days are just right, and that will encourage buyers to tour homes that are well priced. They understand that waiting too long could make your home out of their price range.
Homes in the Ocean State are sold year-round, but rising temperatures do play a role in the sale of a home. If the reasons above have spurred you to jump start your listing, speak with a J.Christopher Real Estate agent at 401-830-6906 and begin scheduling tours today.