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#1 Reason You Should Sell Now

#1 Reason You Should Sell Now

The price of any item (including residential real estate) is determined by ‘supply and demand’.  If the supply of an item is larger than the amount of people looking to purchase that item, the price will decrease.

According to the National Association of Realtors (NAR), historically there is a natural decline in buyers looking to purchase a home (also known as foot traffic) as the winter months approach. Shown in the graph below:

Foot Traffic to Decline in Winter Months | Keeping Current Matters

NAR goes a step further to say that there is a direct correlation between “foot traffic” and “pending contracts/closed sales one to two months later”.

Bottom Line

The real estate market has done well to recover from the slow start we experienced due in part to the inclement weather at the beginning of 2014.  But with those winter months right around the corner, now may be the best time to get the best price.

Line-Break

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1 reply
  1. Din Gupta
    Din Gupta says:

    These observations are just right. In addition, mortgage interests also go down in Fall/winter months (Nov-Jan.) Fall is even better when going to Open Houses is little easier for the families with small children.

    Reply

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