It’s been a long winter in the Northwoods, but Spring never skips a turn. At this time of year Up North, bears emerge from hibernation, robins land on tree branches, and home buyers begin making inquiries. 2019 was an exceptionally strong Sellers’ Market. There are signs that the 2018 market may be a bit more balanced and, as always, Spring tends to be the best time of year to list your home for sale. Why?
Here are five consistent reasons:
1. Northwoods Home Buyers are ready! House hunters have waited all winter for the opportunity to see properties once the snow has melted. The number of people prepared to purchase a home is simply larger between April and June. Many Sellers know this and competition can get high, which is why it’s optimal to list your home early.
2. Families with children prefer buying homes in the Spring or early Summer to allow their children time to settle in before starting their school year in perhaps a new district. Even households without children prefer relocating in the Spring and Summer, when the weather is more conducive to moving and settling in.
3. Because of the demand for homes, properties sell faster and potentially for more money in the Spring. The combination of quicker sales and higher prices alone should encourage sellers to list soon!
4. Bidding Wars. With a large number of potential buyers and limited inventory, it’s not uncommon for bidding wars to occur. And when that happens, the price of a property can rise substantially.
5. Millennials have arrived to the housing market! That population group puts a premium on becoming a homeowner, even more so than previous generations. Many have planned this for a few years, have saved money for their downpayment, and have been pre-approved. Whether it’s a new job or a desire for a smaller community, a whole new generation of buyers is here.
As Spring comes to the Northwoods, we welcome you to stop by, give us a call, email us, or message us. We’d love to show you around the beautiful, special region we call home.