When one thinks of selling their home in New England, most believe spring or summer are the best times. Winters are long, its cold outside and landscaping doesn’t look its best. Who wants to buy a house in the midst of all this?!
Serious buyers do.
Coming off of 2 years of a red-hot housing frenzy, there are still people out there searching for their dream home. Spring brings more listings, more buyers and therefore more competition across the board. When the flowers start to bloom and the trees begin to grow leaves again, its May. Almost half of the year is over. If selling is a consideration in 2023, now is a great time to get started. Inventory is so low which means less competition between sellers. Serious pre-approved buyers are still out there looking, just waiting for the right house to come on the market.
For buyers, some homes have been sitting since the fall and it might be a great time to submit an offer under asking. For months we were seeing 100% or over of asking prices in sales on the South Shore. Now the market is correcting itself and we starting to see more negotiated prices under ask (and the return of contingencies and home inspections). That being said, some homeowners are seeing at asking or over asking in this market. For instance, South Shore towns like Hingham are still in high demand. They continue to see high numbers and less days on market than some other surrounding towns.
Ultimately, you know when it’s the right time for your family to list. Sometimes there’s no planning involved and life dictates when we need to sell. Spring and summer are great times to list, as curb appeal is at its finest and gives a great backdrop to showcase your home. But give winter a consideration for the reason I said above, you might be pleasantly surprised. For any questions about listing or buying in this market, please feel free to reach out!
Happy New Year!