Macomb County Michigan Homes and Condos Listing Price vs. Listing Timing: Which Is More Important?
By: Rick Giese RE/MAX First
The Timing Fallacy
It's common to talk about real estate as a seasonal industry, suggesting that sales are related to the time of year rather than recognizing that market conditions, relocation patterns, correct pricing and any number of other factors can have a far greater impact than timing or season. According to Simms, no two years are the same, and home sales can take place at any time of year.
For example, many luxury real estate agents spend the summer on vacation based on the assumption that their high-end clients are out of town, as well. They advise clients to hold off on listing their homes, believing that there won't be sufficient traffic and that the home will sit on the market.
In reality, of course, people buy homes at all times of the year. Buyers with children want to close before the school year starts. Spring markets run later some years than others, depending on weather patterns and late storms. This means that there are no hard-and-fast rules when it comes to the timing of a listing.
The Days on Market Fallacy
According to Simms, the other erroneous belief is that homes listed in the summer will languish on the market because of reductions in summer traffic. The suggestion is that the increased days on market and attendant price reductions are caused by the timing of the sale.
The Pricing Factor
She then looked at outcomes and overall buying activity, determining that if a home was priced appropriately, it would sell no matter what time of year it went on the market—even if there was an overall decrease in market activity.
"If the opportunity comes up and the price is right, and the product is desirable, they're going to act on it whenever that is."
If you want to sell your house or condo in the least amount of time at the best price with as little hassle as possible, Call or text Rick Giese today at 586.242.3100
If you're thinking of selling, I encourage you to take a look at what your home is currently worth by using this free home value calculator, which takes into account recent area sales:
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Rick Giese RE/MAX First