Should you take your home off the market for the summer and give it a break for a while?
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All the time, sellers ask me if it's a good idea to take their listing off the market to reset the days on market.
Who asks me this question? It’s the sellers who are feeling uncomfortable because they think that their home has been on the market too long and they fear that buyers may notice that fact.
But let me tell you: In my 30 years of real estate, I’ve never once had a buyer tell me that they won’t buy a home that’s been on the market too long. They might have issues with the price, the area, the size, or the condition of the home, but never with the length of time the home has been on the market. Not once has a buyer ever said to me that they love the home but will not buy it because of days on the market.
So my response to the question is to stay the course because you have a great opportunity to sell. If your home isn’t on the market, you’re almost guaranteed that it won’t sell.
“
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If you’d like to sell your home, why not
keep it on the market and let the buyers
know that it’s available?
keep it on the market and let the buyers
know that it’s available?
Waiting until next season to sell will cost you a lot more money, and there are several reasons why this summer might just be the best opportunity to sell your home:
- Buyers today have fewer choices. In the fall, the market will be flooded with new listings when your neighbors return, and the classic law of supply and demand is that the more inventory on the market, the lower home prices get. Sell today, and you can actually get a higher price and net more money because you won’t have to pay for the additional nine months to carry the home.
- There are more buyers now. If you sell this summer, you will likely have access to buyers that sellers in the fall will not. Many of these buyers want to finish the transaction so that their children will be able to start school in the fall, while still others are snowbirds who want to move before the cold seasons begin. Spring and summer are the busiest markets in the rest of the country. Anyone waiting for a home to sell up North will buy your home now.
- Renters will buy when their lease is up, and leases expire 12 months of the year.
