The Best Time to sell a home in the Lakes Region

I am often asked the question, “Should I list my Lakes Region, NH home for sale over the winter or should I wait till summer?
This is the million dollar question. Well, you can certainly argue the properties around here look a lot better in the spring and summer, especially Lake Winnipesaukee Real Estate, but what do the numbers say.   If we look at properties that sell from April 1st to June 30th, we can assume that most of them were on the market and went under contract during the winter. We can use the same logic for summer sales, August 1st to September 30th. So, here are the number of closed residential sales in both Carroll and Belknap Counties.

 

Date Range

2008

2009

2010

2011

April 1st to June 30th

332

326

414

337

September 1st to October 30th

236

258

262

288

 

 

This leads to another question, “When is the best time to list a home in the Lakes Region of New Hampshire?”   I would consider the average closing time frame, when the home goes "Under Contract" to actually closing, is about 45 days. So, if we look at the number of closed sales for a given month, we can assume it went under agreement (sold) 45 days earlier. We can also assume a house that goes under agreement is listed at fair market value and sells within a couple months of being on the market. So here are additional statistics through November 2011:

Total:                   The cumulative number of sales for the 7 years shown.
Average:               The Average number of closed properties for the years 2005 through 2011.

 

Let’s make a couple stretches and conclusions.

·        June is the biggest closing month, so list your property in February or March to stay on the market for a month or so and go under agreement in April and sell in June!

·        August and September are big closing months as well, so list your property in April or May, hit the market just in time for summer then sell before our Massachusetts visitors head home.

·        What about listing in November or December? Well, the inventory should be very low, as we just had some big closing months and there are homes sold to prove value. The supply is lower, so your home should stand out for those who have yet to pull the trigger.

 

The Lakes Region is a popular place for buyers from all over the country and the world. Since the internet has become the most widely used tool for searching for real estate, especially in a second home market, the Lakes Region has year round real estate demand. My advice: no matter when you list your home, make sure you have some photos of all seasons and photos that portray your property in the best light possible. This is one of the biggest reasons I use a professional photographer to capture my homes with high quality photos.  I find when people are ready to sell, there are people ready to buy. One thing to avoid is pricing the property in the hopes the market will be better next year.

 

Lakes Region sold property