The Magic in new Beginnings
May 23, 2022 10:17
Leo Tolstoy said that Spring is the time of plans and projects, and in real estate, we agree with that statement.
The real estate market in Portland is seasonal. The winter market is the slowest market because it is cold and rainy. Also, days are shorter and who wants to go house hunting in the dark after work?
As the weather starts to improve and as days get longer, buyers are motivated to look for real estate.
Sellers know that buyers will be out looking for homes in the spring, so this is a great time to list and sell homes.
If you look at appreciation, we usually get a spring bounce in price as well.
When summer rolls around, the market is still hot, but a lot of buyers go on vacation and many get ready for "back to school" season. This takes a little bit of momentum out of our summer market.
The Autumn market is still pretty solid, but once Halloween arrives, so does the rain, the cooler temperatures and shorter days, and this definitely puts a damper on the real estate market.
Here are a few tips for sellers in the spring market.
Make your house look amazing. If you have unfinished projects, finish them. Nobody wants to pay top dollar for a house that is half baked. Cleaning, Staging, Landscaping and Professional Photography will make a huge difference in the appearance of your home online and in person.
Hire a Realtor. A Realtor will help you prioritize projects and may have good contacts for landscaping, cleaning, staging and photography. A Realtor will also be able to advise you about the pricing, marketing and safety issues.
Make it easy to show your house. Coordinate with your Realtor about showing times, and do whatever you can to accommodate showings. I know it can be inconvenient, but it makes a big difference in days on market and selling price.
Pay close attention to market conditions. This year it is interest rates and the war in Ukraine. Last year it was crazy low interest rates and a changing buyer preferences towards bigger houses and yards. Two years ago it was the beginning of the Covid-19 pandemic. If the market is changing, you may need to adjust your marketing to adapt to market conditions. Good luck with buying or selling real estate this season.