In a famous scene from the film “Any Given Sunday,” Al Pacino, in the fictional role of a professional football coach, gives an impassioned speech to his team before a critical final game of the season.
You see, life is a game of inches. So is football. Because in either game, life or football, the margin for error is so small. One half step too late or to early, you don’t quite make it. One half second too slow or too fast and you don’t quite catch it. The inches we need are everywhere around us. They are in ever break of the game, every minute, every second.”
Analyzing home sales of $750,000 or more in Lake Forest, timing is critical. There is a common misconception that you should “list in spring.” This is not true. You should list as soon as possible after the New Year.
Let me explain:
I ran some statistics to show how critical it is to prepare ahead of time for your listing in advance. As you can see in the chart below, “New Listings” begin to increase in January and then “Sold” (closed) listings shortly following in March, April, and May.
The “Sold” homes represent when those homes actually closed. Looking further, the homes that “Sold” (closed) in any given month were “Pended” 45-60 days sooner. In short – a home that “Sold” in March was under contract in January.
The chart below provides a more accurate illustration of when to fully maximize the opportunity to sell. This shows “New Listings” vs. “Pended” listings. (Pended is when a listing is under contract with an offer).
Conclusion: listing your home in January gives you the greatest chance to sell it by virtue of that listing being seen by the most amount of potential buyers. If you list in March, you’ve already missed 40-50 buyers who went under contract on homes that could have been yours.
It would be my pleasure to speak to you about listing your home.
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List your home with Sotheby’s International Realty in 2020. We will fight for every inch.
All the best,