In a normal seller’s market there really isn’t any bad time to sell your house. However, Spring in Northern CA, where our real estate market is located, is usually the best time to sell and winter is usually not the best time to sell. Why is that? NORMALLY, buyers get distracted during the holidays and choose to put off buying a house. NORMALLY, buyers don’t like trudging about in the cold and rain to look at houses and want to wait until the weather is nicer. But these aren’t normal times.
How COVID has affected our market
Nationwide, and definitely in our Chico and surrounding area, there are less homes on the market and more buyers than ever. WHY? COVID is one huge reason. The affects of COVID have been felt in more than just the health care, politic and economical arena. It has affected WHERE people want to live. Many people are now able to work from home. Thousands of jobs are now offered to people remotely, whereas before, it wasn’t the case. And these remote jobs are looking like they are here to stay. So more people than ever are asking themselves, where do I want to live? COVID has also got people thinking about where they are in life and where they want to be. Many people have reflected on those two things and have decided to make a change. COVID has affected schools, jobs, where people want to live, and so much more. Now, more than ever, buyers are in abundance.
And how has COVID affected sellers?
Nationwide, the number of homes that are on the market are low because sellers who want to upsize are finding it difficult to do so because they can sell their home quickly but can’t find their replacement home fast enough. Some sellers are keeping their homes off the market due to the pandemic- they don’t want people coming through their house. Some people don’t want to sell because they feel nervous to sell and make a move during perceived volatile and uncertain times. Unemployment rates are extremely high, inflation is up, and politics are crazy.
Why this winter is a good time to sell
There is a vast amount of unsatisfied buyers who want to be in a home of their own and quit renting, or want to be in a different location or closer to family, or want to take advantage of the amazing interest rates before they go up, or the myriad of other reasons people are pressed to buy now. Home buyers are more motivated this winter than in the past. Buyers are very specific about what they want, and turn-key homes that are updated, or have more land than a postage stamp, often see the most offers (in the Chico and surrounding real estate market). Buyers nationwide are still out there in droves, ready, willing, and able to purchase a home, when the right one comes along!
If you’ve been holding off selling…
…then CALL us! We can help strategize with you and help you come up with a plan that works for you. Information and expert advise is key in making a decision like this. Reach out so you can get peace of mind. You can also get a free, instant home valuation without having to talk to us, using a tool we subscribe to called “Homebot”. Your information will NOT be sold or given away, and this is a secure site, so check it out here!
This blog post is written by Kim Jacobi, of the Jacobi Team of Century 21 in Chico, CA. You can reach Kim at Kim@JacobiTeam.com if you have any questions or comments.