What usually happens in January and February?
There’s always activity, but January always feels slow. That’s fine.
For sellers, unless there is some specific reason, it might make more sense to wait until at least February, and even later to go on the market. There just aren’t quite as many buyers on the hunt. The days are still short and cold, and the prospect of looking at homes in the dark after work isn’t always the most exciting.
If there is a specific reason–say, you’re relocating and really want to be in your new location by the end of April–then, by all means, get it on the market.
And of course the flip side is that there ARE buyers who are looking. If a seller lists in January when the competition is lower, they might get more attention. You see where this is going though…more attention from fewer buyers.
Here’s what the numbers say. This is for single family homes that were listed on the Multiple Listing Service. This data is for the whole state of Vermont.
Obviously there are new listings in January and February. Just not a ton.
This table shows the percentage of new listings that hit the market in January and February. Ballpark 10% of the year’s listings, over the past two years.
Another way to dissect the market for this time of year is to consider how many properties went under contract in the first two months of the year. Again, this is for single family homes in Vermont.
More than 300 homes went under contract in January-February. People are looking, people are making offers, and buyers and sellers are getting into contract!
Again, for perspective, here is the annual proportion of properties that went “in contract”.
What’s the takeaway? Obviously the real estate market slows down this time of year. It never stops. There are always buyers and sellers. There are always new buyers and sellers. You can be part of the 11% of total statewide buyers or sellers that get an accepted contract in January and February!
And if timing works better for you to wait for later in the year, that’s totally ok too. Don’t try to time the market, and don’t try to rush things. When the time is right to buy or sell, commit to it, and connect with an experienced, professional buyer agent or listing agent.