When should I list my home?
I’VE MISSED YOU. For many years I answered challenging real estate related questions posed by Gazette readers. After a considerable hiatus, I’m excited to be back writing a real estate column for the Gazette, and looking forward to new challenges that I know you’ll bring to me.
In past columns I’ve tackled: the real meaning of radon; negotiating an inspection settlement; the best neighborhood for your family; and hundreds of other issues. We now have a brand new decade with which to work! A real estate closing now generates enough paper to sink a ship. The amazing Internet now allows us to get information about new listings to you in glorious color the moment they are listed on the MLS. Much of our business remains the same, but we have a whole new set of issues to keep us alert.
Please email or write to me and I’ll do my best to apply my three decades of Colorado Springs real estate experience, bringing in experts from related fields to help me when necessary, to get the best information available for you.
For my first return column, I’d like to address a question asked of me today by my friend Julia. She wants to list her home one of these days, and asks, “What is the best month to put my home on the market?”
Julia, I’ve watched the relationship between time of year and time on market for years. When the yard is brown and there are no leaves on the trees, your home doesn’t show as well - but everyone else’s home has a brown lawn and no leaves-so you’re usually on an equal footing. During this time there are fewer buyers on the market, balanced by the fact that there are fewer sellers. The good news is that for those folks ready to buy, your home will have less competition.
You won’t be surprised to know that the greatest number of listings is available in the month of July. That’s been true most every year since they started keeping records. The fewest listings are available in December. No big surprise - if you don’t have to show your house during the Holidays, why would you?
The real issue, though, is not the number of homes listed. What’s important is when your chances are best for selling your home. In June, July, and August the greatest number of homes are sold vs. those listed. The number of sales is about 25% of the number listed.
The smallest percentage sold is not the month you’d expect. Nope, it’s not December. In fact the stats reflect what we’ve seen in our office… December closings are on a par with mid summer numbers. Wow, what a nice Holiday present.
Because showings decline in December, the smallest percentage of listings is sold in January and February.
The stats are clear, Julia, but not so clear that you should wait to list your home if the timing works better for you. If you have a schedule that means selling your home would be best in February, go for it.
I’d like you and other sellers to consider another important factor - the uniqueness of your house. In your case, consider those grand old trees, and the hundreds of bulbs that are eager to pop out of those gorgeous gardens. Take advantage of the stream gurgling through your yard, and the birds chirping in the trees. I’d say you have a big advantage over homes with a less pastoral setting.
Put your home on the market when that red red robin comes bob-bob-bobbin’ along.
February 16, 2005
GAZETTE COLUMN
Stuart Scott is President of Stuart Scott Ltd, a Colorado Springs residential real estate company. He has been a licensed Colorado Realtor for 33 years.
Sheila Morris
Stuart Scott Ltd.
726 South Tejon Street
Colorado Springs, CO 80903
Office: 719.578.8801 x116
Fax: 719.578.8808
Cell: 719.290.0770
www.SheilaMorrisHomes.com
