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There’s No Sense Waiting for Spring to Sell Your Home

By in Sellers with 0 Comments

You’re familiar with the law of supply and demand. It says that the price of any item will change to match both its availability (supply) and consumer interest (demand). When there’s a high supply of a product and little demand, the price will go down. On the other hand, when there’s a low supply and high demand for a product, prices go up.

That applies in real estate just as much as it applies to anything you buy at the mall or grocery store.

When the number of available homes goes up, prices tend to remain steady or even go down. When there’s a limited number of homes for sale, both demand and price tend to rise.

Tri-Cities Supply and Demand

If you’re selling your home this year, you might think spring is the best time to sell — the weather gets better and more buyers are out looking, right?

Well, not necessarily. Let’s look at it in terms of supply and demand.

Demand: Home buyers are active all year long, and the ones who are looking in winter are generally going to be highly motivated — they need a house and soon.

Supply: In the Tri-Cities (and around the country, for that matter), home inventory goes up substantially in the spring. Here’s a look at available homes on a monthly basis last year.

The chart speaks for itself: If you wait until spring (or summer) to sell, you’ll be up against a lot more competition. It could be harder to get the price you expect. It could be harder to sell your home as quickly as you need.

So it might make a lot of sense to get your home on the market now, when there are a lot of interested buyers and fewer homes available.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016. I am on the Budget and Finance Committee there, as well. I love serving the citizens of this community, and my fellow Realtors, too. Want to talk about real estate? Click here to schedule a meeting with me!

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