As of December 2020, the real estate market in Grays Harbor is still great. Well, it’s great for sellers! We continue to see year over year increases in average sale prices, inventory hovering low, and days on market shortened.
This time of year, we often get asked from sellers: is now a good time to sell? Should we wait until Spring?
Short answer: yes, sell now and don't wait.
Here’s the deal. In theory, there are more buyers in the spring/early summer than there are in December. That’s a great rule of thumb. But there are two reasons not to wait to sell:
1) supply and demand.
While there are more buyers in the spring and early summer, there are also more homes for sale. Partially because that’s the time of year to sell, they think, and also because their agent is telling them that.
As supply increases in the spring/summer, demand levels off. You won’t stand out. With less buyers in winter, there are also less sellers. The ratio of buyers to sellers probably stays the same.
2) We never know what tomorrow brings.
As agents, we have a great idea of what the market is like RIGHT NOW. Today. No one can predict tomorrow’s market, especially not 3-6 months in the future.
I often tell sellers it’ll PROBABLY be the same, likely not much better, but there’s a real chance it dips. If you think you could make an extra few thousand if you wait 6 months – what happens if the market dips 5%? What about the additional house and utility payments?
If there’s no reason for you to wait until spring to sell, then sell now. Timing is everything.