Spring Is Huge In Our Marketplace
This will be my 28th spring in the Center City real estate market and no other time brings about a consistent pace of condos being marketed, shown and sold. Generally speaking, the spring market begins in early March and continues through the end of July.
The warmer the weather, the busier the real estate traffic becomes around Center City. Add the influx of medical students in April and the open house traffic is sure to be explosive. In addition, we see the suburbanites migrate to town in the spring as they prepare their larger suburban homes for sale.
Spring is crucial for our market as open houses tend to be very busy, the "days-on-market" clock for most condos becomes shortened and activity is at an all time high.
IF YOU ARE LOOKING TO SELL
....Spring would be the time to do so.
I also think that VALUES tend to peak in the spring time. Nothing motivates a buyer more than seeing condos disappear at an alarming rate- especially with multiple bids, as is happening.
Many "untrained" buyers may think they can low ball a well priced, nice looking condo, but they may quickly learn that if a condo shows well and is priced well, it is going to sell (very) well and close to asking price. Buyers generally need to fail before they can see this action play out. It is a live and learn world we live in and condo buying and selling is no different.
Sellers often DO need a crash course in
And it really gets down to realizing that buyers have no vision and sellers MUST provide that visual stimulation in terms of cleanliness and decluttering. I recently had a seller who told me that buyers can see past the clutter. Perhaps she meant buyers from Mars because buyers from this planet can't see past dirt and clutter.
Value is also a function of "days on market"
The longer a condo sits on the market, the more "shop worn" it may appear to buyers in terms of value. Condos here in Center City are worth the most to any given buyer (generally speaking) within the first two weeks of hitting the market. And that is where timing comes into play. Hit the market in the early spring when buyers are anxious to get something under contract. Offering your condo for sale during the HOT spring market can raise your value and garner more offers than say during the winter months.