When is the best time to be selling a Long Island NY home? According to a new study by the real estate brokerage Redfin, homeowners who list their property for sale often find the winter season the most advantageous time to be selling a Long Island NY home.
The winter season unofficially is considered to be the time between December 21st and March 20th. So if the Redfin study holds true for the best time to be selling a Long Island NY home, we're starting into the home stretch now, no pun intended.
Listing a Long Island NY Home Now May Net More
In an update to a two-year analysis it completed last year, Redfin researchers studied nationwide home listings, sales prices, and time-on-market data from 2010 through October 2014. According to Redfin's research, February is "historically the best month to list, with an average of 66 percent of those owners selling a Long Island NY home who listed then, selling within 90 days."
Selling a Long Island NY home during December through March tends to net sellers more than their asking price than listing during any months other than April and May.
Researchers say the winter market is less competitive for those selling a Long Island NY home since many people tend to wait until the spring to list. The smaller inventory of active listings help sellers get more attention from buyers on their properties. Also, many large corporations often transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers.
As for buyers, they may find winter a good time to make a move too. Sellers often are more flexible about negotiations over prices and terms than they would in the spring.
People tend to get more realistic at this time of year with the holidays behind them, particularly if their Long Island NY home has been on the market since last summer or fall.
Find more news articles as they relate to selling a Long Island NY home in the Long Island NY Home Selling Tips section under Long Island NY Real Estate Categories to your right. And find us on Facebook and follow us on Twitter for daily updates we post there as well.