Most people believe that the optimal time to list your house is in the spring. There is no question that spring is the busiest real estate market especially on the lake; but, depending on your home’s assets and liabilities, there may be a better time to list. In truth, lake houses sell year-round, so there really isn’t a bad time; but some times are better than others for certain types of homes.
In the lake real estate off-lake season, generally during the fall and winter, many sellers opt to take their homes off the market to relist them as new listings in the spring. Those homeowners who choose to keep their properties on the market past peak season are often exhausted and ready to sell. As a result, home prices typically drop, which is great for budget-conscious buyers. Plus, tired sellers are likely to advocate for a quick closing. Not only does off-season shopping allow buyers to spend more time inspecting the home, area and lake culture outside the busy season, but it can also mean fewer offers for sellers to consider. Purchasing a lake home in the fall or winter also gives buyers plenty of time to prep the property for the coming lake season.
If the Price is Right
You will never find lower prices on lakefront property than winter months. Sellers know there are almost 75% less buyers out looking at properties due to holidays, cold weather, etc.; and need to adjust their prices accordingly. Sellers also know that they are selling a lifestyle product and it is off-season for that product. There is possibly ice on the lake/pond, there could be snow covering the property, etc. If they didn’t sell by early December, then they will have to present their property as an extreme value if they have any hope of selling before the spring market.
Most lake buyers want a view of the lake. The better the view, the higher the price tag. If you only have a winter view, you should definitely list after the leaves are off the trees, usually late November. Then, when the listing does start, at least you will be able to show the seasonal view.
RE/MAX Realty Professionals—The Results Team—is ready to help you buy or sell your home! Visit www.calltheresultsteam.com. Or call Lesa Miller at 812-360-3863 and Jenivee Schoenheit at 317-258-0995.