SunCrest Market Updates December 29, 2016

December SunCrest Market Update

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 Do SunCrest Homes Really Sell In The Winter?

We get asked that question a lot this time of year. For good reason, too. With the wintry weather, the holidays, or the notion that it’s just not “peak season” for real estate, it would be easy to think buying and selling a house isn’t on anyone’s mind.

redfin-seasonal-study-graphWhile it is true that more transactions occur in spring, you may be surprised to learn that winter is also a great time to sell your home. According to a recent Redfin study which analyzed over 7 million home sales over the past 4 years, Winter was a close second to Spring when it comes to greatest likelihood of selling above list price and selling in less than 30 days.

In 2016,  SunCrest sellers received 96.22% of their list price in winter compared to 96.55% in spring.

The total number of homes currently for sale in SunCrest continue to be at or near the lowest number it’s been in all of 2016.  Sure, trudging through snow or decking the halls (so to speak) might sound like it’s putting people off, but we’ve found that winter brings out the more serious buyers. Those looking to move are often motivated by a new job, new family member, or unique to SunCrest, escaping the inversion.

 Our take: 

Buyers looking are becoming increasingly frustrated at the lack of fresh inventory.  Sellers pondering putting the sign in the yard won’t face nearly as much competition but will have serious buyers knocking.  While snowstorms, windstorms, and holiday havoc may put some off for a weekend, history shows us that most are comfortable with snow boots and scraping the car to buy or sell their next home. If you’re on the fence (or snow mound) about the best time to buy or sell, now may be the time to explore your options.

Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.  The previous month’s SunCrest housing information and future editions are released monthly.