The Best Time of Year to List Your Property is....

Is it true that the best time to list your home in northern Michigan is in the spring or summer?  The quick answer to this question is the same as to the question “How’s the market?” and that is, it depends.  It depends on what segment of the market you are talking about:  condos, in-town homes, waterfront, vacant land, what price range, etc…  Have your real estate professional research your specific segment of the market.  I recently listed a home on Crooked Lake and identified the following statistics:  

Pickerel, Crooked, and Burt Lakes and Crooked River

Sold Waterfront Homes

Contracts Written (that closed) 2007 thru December 6, 2010

1st quarter        14 

2nd quarter       14  

3rd quarter       15

4th quarter        9

This is just a snapshot but a lot can be taken away from this.  First and importantly, offers are written year round for waterfront homes on the Inland Waterway.  Buyers are planning for the upcoming summer.  Since there are more listings during the summer, there is less competition during the 1st and 2nd quarters.  Less competition can often mean a higher price.  Furthermore, time is money – that is waiting can have its associated expenses: taxes, mortgage payments, opportunity costs, etc…

To conclude, when to list can involve many factors and it is best to have a real estate professional provide you with market research.  Listing now or keeping your property on the market may be in your best interest. 

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Bill Winslow

Bill Winslow

Associate Broker, Manager, CLHMS®
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