Winter, Spring, Summer, or Fall?
Winter, Spring, Summer or Fall, all you have to do is call!
As we approach the end of the year, sellers become concerned. With wide eyes and hesitation, they ask, “Is this a good time to sell?” “Should we wait until spring to sell.” “Isn’t summer the best time to sell?”
In the South Bay, the best time to sell is when you are ready and the house is ready. In other areas, waiting for spring time may be a good idea. When the garden is blooming, the sun is out, the weather is nice and people aren't staying indoors to avoid the cold, helps get the most value for your property. In the South Bay, the garden is lush, the sun is shining, the weather is beautiful and people are active all year round. This is why the values in the South Bay are so strong.
When we review the statistics and reflect on buying patterns for Manhattan Beach, Hermosa Beach, and Redondo Beach to include single family homes, townhomes, and condos, we see some interesting information. Here’s what we see:
Fall 2018 was a strong season for selling. It had the second highest, average closed sales price in the last year and the second highest average price/sqft for the last year.
Last winter, the number of homes sold was the least and it took an average of 12 days longer to sell a property. Less competition is a good thing for a seller. Although the days on market was longer and the average closed price was the lowest in winter, the price per sqft. was the highest. This is also great for a seller. Contrary to popular belief, winter is a good time to sell.
In Spring 2019, the most homes sold in comparison to its competing seasons. However, the average price/sqft. was the lowest and Spring came in 3rd place for average closed price. This shows there is a lot of competition in the Spring. It is a time to take extra care to spring clean your house, declutter, stage, and make sure it is presented competitively.
Were sales sizzling in summer? There wasn’t as much competition in the summer as spring, with 361 properties sold. Summer takes first prize for highest, average closed price but takes 3rd for average price per sqft.
Many variables are considered when pricing your home. In our opinion, the season isn’t one of them. Each home and neighborhood has unique characteristics. When pricing your home, our expertise, experience, and consideration to all the variables, is what makes it a best time to sell.
Winter, Spring, Summer or Fall, all you have to do is call and WE WILL BE THERE!” Give us a call if you are ready to sell. We are never too busy for you or your referrals.
Here is a review of the numbers (if you’re a numbers person):
316 properties sold
Average Sales Price - $1,769,008
Median Sales Price - $920,000
Days on Market - 37
Price per sqft. - $833
257 properties sold
Average Sales Price - $1,657,470
Median Sales Price - $960,000
Days on Market - 50
Price per sqft. - $839
451 properties sold
Average Sales Price - $1,713,581
Median Sales Price - $1,200,000
Days on Market - 38
Price per sqft. - $807
361 properties sold
Average Sales Price - $1,788,877
Median Sales Price - $959,000
Days on Market - 39
Price per sqft. - $829