Many people believe that selling their house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher price.
Historically, this made sense. However, today’s real estate market is not following the rules of the past.
The National Association of Realtors (NAR) measures buyer “foot traffic” each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor® (based on the number of lockboxes used). The data reveals the number of buyers out actively looking for a home, not just window shopping on the internet. NAR explains:
“Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”
According to the latest Foot Traffic Report, buyer traffic is greater now than it was during this year’s spring market and there are more buyers out now than at any other time in the last five years (March of 2012).
The chart below shows that buyer activity over the last three months (blue bars) was greater than it was during this past spring market (green bars).
If you are waiting for next spring to list your home because you think that’s when the buyers will be out in force, perhaps you should reconsider. Buyers are out right now!
Work with an Expert
If you’re looking to buy or sell a home in Reynier Village or the Los Angeles area or just want advice on the state of the market, you should call someone who knows the area and LA market inside out, please contact me at 323-646-6569 or Laura@LauraAndersonRealtor.com. I live, shop, & work here alongside you. I sell real estate in the areas of our city I am most passionate about – Faircrest Heights, Reynier Village, Mid Wilshire, Mid City, Culver City, DTLA, Playa Del Rey, Hollywood Hills, Los Feliz, Hancock Park, and Beverly Hills. At Keller Williams, I am one of the top ten agents in my office, receiving many production awards, and I am a member of the “Agent Leadership Council”, but that’s the behind the scenes stuff. What matters to you is that I am passionate about what I do, where I live, and that I understand the local real estate market. I want my clients to be happy, offer referrals, and do business with me again.