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Do Homes Sell in Winter? ❄️❄️

In today’s market, the answer is an unqualified “YES!”. 

However, summer months are no longer the peak.  It’s tax season! Yes, April 15th is about when buyers overwhelm the available inventory.  The best reason we could come up with for the earlier timing of throngs of buyers hitting the market is the change in the school calendar.  With a shorter number of days for families to take vacations and the earlier school start dates, many people are wanting to get the house sold / purchase/move done before summertime.  That means the housing cycle has moved forward with the cycle peaking in April, it means that the prime time to get your house on the market is the winter.  And this means January.  Looking back, we even worked last New Year’s Day and it set the tone for all of January and February.

So, if you’re thinking about making a move in 2019, it’s a great time to get ready to put your house on the market come first of the year.  Not convinced???  Maybe the other reasons below will help…

  • We are in a Seller’s market
  • Mortgage rates, despite recent upticks, are still low by historical standards
  • And with the Fed talking about more rate hikes, many buyers are wanting to purchase before rates go higher
  • Inventory is low with less than a 3 months’ supply.  5 or 6 would be a healthy number.  So, basic supply and demand makes this a good time to sell
  • Serious buyers are always on the prowl
  • Buyers hear that home prices have been going up.  That fuels consumer confidence and also makes them want to get on the bandwagon before prices go any higher
  • Deals turn quicker in the winter months
  • And, yes, the peak buying season starts on New Year’s Day

The 3 KEYS TO SUCCESSFUL SELLING are price, condition, and marketing.  We’ll save our thoughts on that for another day.  But if you want to get a jump on the competition, give Dave or Bob a call today— and let’s get you ready for a successful house sale this Winter or early Spring.

P.S. Overwhelmed with getting your house on the market?? Check out our FB post on the Top Home Décor Trends for this Fall [Link]

When Do the Most Homes Sell in Central Indiana? 

Everyone seems to know, but as the saying goes, “Numbers don’t lie.”  During the past year, June was the biggest month, with 4064 closings.  That was followed by August with 3802; with May and July not far behind.  April, September and October also surpassed the 3000 mark.  The slowest months for closings were January and February at 1901 and 2146.

Now, some of that may have you scratching your head, because it sure seems like it was crazy busy in February and March this year, with bidding wars being the subject around the water cooler and at the local pub.  So what gives?  Well, closings typically follow offers by 30-60 days, as people work through inspections and mortgage approval.  Which is why it was, in fact, crazy busy during the February – May period.

Home Sales by Month
3144      October
2817      November
2773      December
1901      January
2146      February
2966      March
3212      April
3739      May
4064      June
3702      July
3802      August
3144      September

Until Next Time, Make It A Great One!

Are Home Sales Declining?

In the past few days, I’ve had 6 or 7 people tell me they heard home sales have been declining for the past six months. It appears this is gospel and spreading like wildfire. But whoa! Just a minute there pilgrim…

 
#1 That message was likely a replay of the National Association of Realtors’ monthly press release. It was for the nation as a whole.
 
#2 But, real estate doesn’t trade on the NASDAQ or NY Stock Exchange. Real estate is a local market. So, paying attention to national real estate numbers is of limited value. Paying attention to what is happening here in your own backyard is of far greater importance.
 
#3 And that is (🥁🥁🥁) Sales here in Central Indiana have been running ahead of a year ago and are up 3% for the 12 months just ended. Yes, they were down in September from September 2017 by 3%, but since that is the only recent month where that has occurred we’ll have to wait to see if that is the start of a trend or just a one off. Median sale prices in September were up 9% over a year ago. And despite an increase in new listings, the available inventory per buyer was down 16% from a year ago. So for now anyway, here in Indiana we’re seeing increasing sales and prices, and with tightening inventory selection.

So when you want a local perspective, give me a call at (317) 625-0655.
Until next time, make it a good one! – Bob