Why Right Now Could Be The Best Time To List Your Home In Savannah

Why Right Now Could Be The Best Time To List Your Home In Savannah

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As you have likely heard by now, Punxsutawney Phil saw his shadow on Groundhog Day and an early spring could be in the making. This news is bound to have some insightful and interested home sellers scrambling to get their homes ready to place on the market, while many others will wait until the flowers begin to bloom and true signs of spring begin to present themselves. Whether or not you believe in the legend of a rodent predicting the change in seasons, you may be surprised to find that listing your home right now could be the best decision you make all year! Why?

Aside from the fact that Punxsutawney Phil could be right and the spring real estate boom could be just around the corner, your Savannah Real Estate Experts team have put together a list of other facts to consider:

There is a seasonal epidemic upon the Savannah area, and it is something that has become somewhat of a trend in recent years. Buyer’s agents all over the Greater Savannah area are struggling to find good options for their buyers as inventory levels continue to shrink! Builders are scrambling to replenish their spring and summer inventory and unaware future sellers are holding out for the warmer months.

For over three years now, the media has continued to warn buyers of the coming rise in interest rates. We have been fortunate enough not to see such an increase on a significant level, but the promises continue. This has led many home buyers to continue searching during colder months to avoid the drastic effect that a rise in interest rates can have on their buying power. A simple 1% rise in interest rates equates to a loss in buying power of more than 10%. Broken down, a $1,000 per month mortgage payment based on current rates would allow you to purchase a home somewhere around $150,000. A 1% increase in rates means a buyer has to then stay under $135,000 to keep the same payment. Understandably, buyers want to avoid this at all costs, so they don’t let the time of year stop them if a relocation is in their immediate future. Job relocations, retirement, and a variety of other circumstances can cause buyers to want to make a move to or within the Savannah area. As you already know, the Savannah area provides a significant amount of industry and a retirement draw that demands quality options year round. Buyers are desperate for quality options and we don’t want you to miss the boat!

While it is true that spring and summer provide the greatest supply of buyers looking to relocate to or within the Savannah area, there is also a significant amount of inventory available during that time to meet the demands of the market. More Inventory = More Competition. This increase in available homes is greatly based on the perception of home owners that April through September is real estate prime time; however, you may be surprised to find that selling now or anytime during the so-called “off season” could work to your advantage as it has for the majority of our cold weather sellers. Not only were there nearly 4,000 homes sold between October 2014 and March 2015, the days on market only increased by 11 days on average versus the typically warmer months of April through September. Furthermore, fall and winter sellers received just as good of a deal when selling their homes, as the average list price to sales price ratio remained virtually unchanged.

Some other great advantages exist for listing your home now, including the fact that any kids in the home are in school. What better way to be able to tidy up prior to a showing without having the little munchkins following behind destroying all of your hard work!

The Savannah Real Estate Experts team recommends that you not follow the crowd, but instead take the advice of an expert and follow your own path to home selling success. Call our Listing Specialist and Team Leader, Trey Swain, today to schedule an in-home consultation! 912-224-8913

“Two roads diverged in a wood and I - I took the one less traveled by, and that has made all the difference.”

- Robert Frost

Trey Swain Headshot
Phone: 912-224-8913
Dated: February 3rd 2016
Views: 1,004
About Trey: As an agent who has been an expert in this local area for more than a decade, I bring a wealth of kn...

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Savannah Real Estate Experts 912-356-0006
9219 Whitefield Ave.
Savannah, GA