The weather might have taken a cold turn in the past week, but the housing market is continuing to heat up. Here is an update on the housing market and a little more information about our VIP program.
What is the Best Time of Year to Sell in West Michigan?
April and May historically are the best time to sell your home as far as netting the most money.
Spring is often considered the best time to sell a house for several reasons:
Better Weather: Spring typically brings milder weather, which means potential buyers are more likely to come out and view homes. The warm and sunny weather makes homes look more attractive, and buyers are more likely to spend time outdoors and consider different neighborhoods.
More Buyers: Spring is traditionally the busiest season in the real estate market, with more buyers actively searching for homes. This means there is a higher demand for properties, which can lead to multiple offers and potentially higher sale prices.
Better Curb Appeal: With the grass greening up and flowers blooming, spring is a great time to showcase your home's curb appeal. Fresh landscaping and a well-maintained exterior can attract potential buyers and make a positive first impression.
School Calendar: Families with children often prefer to move during the summer months, which means they begin their home search in the spring. By listing your home in the spring, you can attract this demographic and potentially sell your home before the end of the school year.
West Michigan Housing Market in April 2023
This year is expected to be a great year for selling your home. One of the main reasons is because of the low inventory. There just aren’t as many houses to choose from, so the houses that are listed have more competition from buyers.
To put things in perspective, this graph shows the number of active listings on the market from the past 7 Februaries. There are more available homes this year than the last two, but it's still a lot less than pre-pandemic years. It's really creating a sweet spot for sellers right now.
Why Low Inventory is Good For Home Sellers
Low housing inventory means that there are fewer homes available for sale on the market. This can be advantageous for sellers for a few reasons:
Increased Demand: With fewer homes available, buyers may feel more pressure to make a decision quickly and make an offer before someone else does. This can lead to multiple offers and potentially a bidding war, driving up the sale price.
Favorable Negotiation Power: When there are more buyers than homes available, sellers may have more negotiating power and be able to sell their homes for more money or with more favorable terms.
Faster Sales: Low inventory can lead to faster sales, as buyers may feel more urgency to make a purchase when there are fewer options available. This can be beneficial for sellers who want to sell quickly and move on to their next home.
What are the West Michigan real estate trends looking forward?
As more people begin to think about selling, we're starting to see inventory increase in Holland, Zeeland, Saugatuck, Grand Haven, and surrounding areas. More houses will appear on the market each month. So if you're thinking about selling or maybe you're curious about your home value, I'd love to talk with you more about it.
Why work with our team?
We want to be more than just your real estate agent – we want to become a lifetime support team. What does that mean? Even after your home sells, there are so many perks to being part of our VIP club.
One major perk is access to free rentals. All current and past clients can, at no cost, rent a huge range of items, from a moving truck you can use anytime, party items like bounce houses, tables, chairs, canopy, grill, popcorn maker, home improvement items like table saws, miter saw, leaf blowers, ladders, and so much more.
Your business is so important to us, we’re willing to go beyond the house sale to guarantee you love living in your new home!
Learn more about our VIP Club here, or call me directly to talk at 616-502-8897.
Posted by Luke Bouman on