Market Time Doesn’t Matter

Question:
How long does a property have to be de-listed from the MLS before it can be re-listed as a new listing? Also, I've heard that most realtors consider the weekend after the super-bowl to be the start of the spring market for Chicago, but I'm skeptical; this sounds a bit early to me. I'm considering listing my SFH in lakeview and know that it will show better when the backyard is at least starting to get in better (post-winter) shape. I'm trying to balance possible detrimental effects from a long market-time vs. my desire (but luckily no necesity) to move.
-Joe

Answer:
Much  research has been done on the effects of market time and sale price and the empirical evidence is clear, there is no effect. (See my whitepaper ) You need to concentrate on price, so your real question should be “how long until I know I am at the wrong price“.  We use a proprietary algorithm to help our clients with this question.

Research also shows that you are likely to receive a higher price for your property in the dead of winter than in the spring, so you are very close to missing that window.

My advice, don’t let your yard or market time become a distraction to the real issue, price.

To learn more about market time and pricing visit our Chicago, Highland Park and Deerfield Real Estate office.

Comments

[Jason]

Interesting that you have found you can get more for a home in the winter. I wonder why that is? My experience in NC has been different. Prices peak in Spring when the market moves faster and prices are easier on the wallet in the winter. Springtime sellers in our market will sometimes just price it and see what happens. A seller that will let you in their house over the holidays, though, is more outwardly motivated.

[philippines homes]

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Deirdre Gonzales