Yowell Team Blog

If you plan to sell your home in 2008, you've probably been debating whether you should list your home now or wait until spring.  In reality, it largely depends on your individual plans and circumstances.  You should allow as much as 4-6 months to market the home, obtain a contract, and settle (longer if selling FSBO).  The average Days on Market in Southern MD is about 120 days right now.  Of course, homes with great features, desirable locations, competitive list prices, and effective agents (see The Yowell Team) usually sell quicker.  If you're moving due to a job transfer or Military PCS and have to be sold and gone by a specific date, timing is crucial.  If you have the luxury of moving whenever the home sells, specific dates aren't as important.  Still, you should consider market conditions and trends when planning your move. 

Historically, home sales are light during fall and winter and heavy during spring through mid-summer.  However, the market has become less predictable due to recent changes in the lending industry and the economy in general.  For those who need/want to move within the next 6 months, we'd suggest putting your home on the market now.  While it's true that more buyers come out as the weather warms up, we're expecting a significant number of new listings to pop up in early spring.  On top of that, there will likely be a lot of homes left over from the current glut of active listings.  The high supply and limited demand will almost certainly lengthen Days on Market and keep prices where they are, or even push them lower.  While that's good news for buyers, sellers are going to "feel the burn".  It would be wise to consider all of these factors and plan accordingly.  That way, your chances of selling at the highest price with the fewest problems will be much greater!

For more tips on selling, attend our FREE SELLER'S SEMINAR!