The spring market is here for Michigan Real Estate. That means a few key things to home buyers and sellers. In MI, as you may expect with most the Midwest, we see seasonal slowdowns during the holidays and winter’s snowy weather. Now that warmer weather is on the horizon and tax returns are in hand, buyers and sellers alike start thinking about relocating.
These next few months, homes will be selling faster and with more competition than any other time of year. For sellers this is a very good thing. There is a higher likelihood of multiple showings, which may lead to multiple offers and can drive up prices. This earliest part of spring can give a big boost to your value and shorten your market time. Most other sellers are just starting to come out of hibernation and beginning to tackle their pre-sale projects before listing. Buyers don’t have as many options but are eager to purchase a home which assists with getting a fast sale. If your home is priced right this time of year it will sell.
Many of the same factors impact buying as well. Over the winter months we always see a shortage of quality listings but also a reduction in the number of people actively home shopping. Now that spring has arrived, there will be extreme competition for well-priced homes in desirable neighborhoods. Buyers will need to be ready to see the homes they like quickly and be flexible with their availability. Likewise you need to have an agent that is responsive and can schedule your showings as soon as reasonable. The increased likelihood of running into a multiple offers means you’ll need to put your ‘best foot forward’ or stand the risk of losing the home of your dreams.
Whether you are buying or selling its important to realize the conditions of the market in your area. As you can see it has a substantial impact on both buying and selling. Call today for a FREE market analysis of your homes current value or to begin your buying experience.
REALTOR, GRI, ePRO, CNRS