The local Realtors Association just released trend numbers for our area, showing three years of listing and sales activity. I was anxious to analyze what they sent, because the last three years have been very interesting – to say the least. Two of the trends that stood out to me are relevant to potential sellers and buyers and answer two very common questions that we are asked.
1. When do you sell the most property? This question is generally asked by a seller who wants to know when they should put their property on the market. We’ve been saying it for years and the statistics still validate our answer. Sales in our area are very steady and consistent throughout the year. There isn’t any particular trend toward a month or season that shows it is a better time than others. Bottom line: You can’t catch a fish if your bait isn’t in the water.
2. When do you list the most property? This question comes from buyers who want to understand when there will be more new listings coming on the market to optimize the choices that are available to them. The statistics give a really clear answer to this one: March. New listings almost double during the month of March. Based on the current listing activity in our office, this year will be no exception to that trend! It’s a great time to buy and there are some really nice choices available. It’s peak time, so don’t miss out!
Another interesting and very pleasant trend from the statistics is the fact that new listings and closed sales for the month of January are 25-50% higher from the previous two years. We felt it. Our office had 18 accepted offers in the first two months of this year and we were feeling really good about that. It looks like things may be turning up. But don’t get too high on the good trends. There is sobering news as well. The Wisconsin Realtors Association released numbers this week that overall housing prices in the state are 20-30% below 2005 levels. That’s a bummer, but not a surprise. We don’t see it bouncing back quickly either. Instead, we’re looking forward to a more healthy, steady recovery.