The N.A.R. economist/cheerleader gives his reasons on why sellers should list early this year.
I’ll add my reasons why sellers should get started earlier:
- Boston condo buyers have been more tolerant in the winter about sellers renting back the condo. Selling earlier and renting back the downtown Boston condo enables sellers to bank their equity and make non-contingent offers on their replacement home.
- Motivated buyers have been anxious for months to see the selling season arrive – and those are the buyers you want!
- Some day we could see a surge of boomers looking to cash out of their lightly-maintained, long-time residences. With loads of equity, they (or their heirs) could undercut you on the price for a quick sale.
- Historically, demand has been known to turn on a dime. Currently, there is little evidence of that, but if the season gets off to a slow start, the psychological ‘animal spirits’ could recede quickly – especially on price.
- New listings were down 50.9% in the Boston area, and active listings were down 25.2% from December 2019. The median listing price was $649,050, a year-over-year increase of 10%. Homes spent a median of 61 days on the market, 15 fewer than the year prior.
The best time to sell? When no one else is!