Many people believe that selling their house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher price.
Historically, this made sense. However, today’s real estate market is not following the rules of the past.
The National Association of Realtors (NAR) measures buyer “foot traffic” each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor® (based on the number of lockboxes used). The data reveals the number of buyers out actively looking for a home, not just window shopping on the internet. NAR explains:
“Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”
According to the latest Foot Traffic Report, buyer traffic is greater now than it was during this year’s spring market and there are more buyers out now than at any other time in the last five years (March of 2012).
The chart below shows that buyer activity over the last three months (blue bars) was greater than it was during this past spring market (green bars).
Bottom Line
If you are waiting for next spring to list your home because you think that’s when the buyers will be out in force, perhaps you should reconsider. Buyers are out right now!
The Ficzner Group is a technology-driven local real estate company that serves the Lake, Geauga & Cuyahoga County areas. Our sales team of Zillow Premier Agents use advanced search technologies that make searching the web seamless and marketing your home instant within the Zillow & Trulia Marketplace.
To connect with us directly,
Please call Mike at 440-305-6349
Or via email: REALESTATE@FICZNER.COM
Visit us at www.ficzner.com- Call or text 440-305-6349 for more information
