Let’s face it, there are a lot of jokes about our Buffalo Winters. This is a question many Buffalo area sellers ask. Many sellers decide to take their homes off the market during the time between Thanksgiving and early February because they believe that there are really no buyers searching at this time.
Should you list your Buffalo home for sale now?
And the answer is dependent on a couple of factors that include:
- Are you priced correctly?
- Is your home the best priced, best looking deal compared to other homes on the market?
- Are you motivated to sell?
- How is the market in your community — not the overall Buffalo Niagara Market, but the market within your specific area
- Do you have to sell now?
- Are you in danger of “Chasing the Market Down?”
Pros to Listing your Buffalo Home now:
Let’s talk about the most important question at hand; list now or wait? There are pros and cons to the listing now and you are in control if this is going to be a positive or negative experience. Pros to listing now include:
- Interest rates are historically low, the time is now giving buyers more buying power. When those rates start to increase it will reduce the number of potential buyers because of the additional cost
- Many sellers want to not be bothered during the holiday season — there is less inventory to compete with
- Your yard becomes a winter wonderland and your fireplace is warm and inviting
- Statistically, more relocations happen in January than any other month. This is an excellent source of potential buyers that you may be missing, if you’re waiting until spring
- Your competition is sitting it out until the weather is warmer
- Nobody likes being out in the cold weather, so the buyers that are out will be more serious and particular in what homes they will look at
- The marketing of your home will be in full swing by the time the Spring market starts if your home doesn’t sell
Remember that if you do list your home for sale this winter, make sure that your driveway and walkways are shoveled and salted and that your home is toasty warm.
Time of year doesn’t matter as much as your motivation to sell, and the pricing of your home for sale. If you have a home that is appealing to buyers, and is price competitively to other homes for sale in your Buffalo area community, your home will sell. If you overprice your Buffalo home hoping to have negotiation power, you may miss potential motivated buyers.
Properly priced houses are getting snapped up, and people tend to want to purchase what they perceive as a deal. The market is different, and if you are trying to what your neighbor got two years ago, you are in for a rude awakening. Some areas are down, some are up. It all depends on price, location and condition of the home. Unfortunately many sellers don’t seem to accept that fact.
How About One Of These Homes?
All statistics are gathered from the Buffalo Niagara Association of REALTORS®.
For more information – call our J. Philip Real Estate Team at: (716) 650-0051
Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call us at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home.