How Does Spring Break Affect Selling Your Home?
Updated: Mar 13, 2022
Spring Break is just one week away, and it may be advantageous for you to consider selling your home before the full-blown spring season hits. Historically, we see that immediately following spring break, everyone else will likely begin to list their homes for sale. Each week and month after that, the housing inventory will keep ticking upward. More inventory means more competition for sellers. With more competition, it will be likely that your home will need to be more competitively priced.
With Bend being a hot spot for tourists, spring break is a great time to have your home on the market. This is a popular time for families to visit Bend and browse homes that are on the market. If you wait a week, you will miss out on all those potential home buyers. You could even go on vacation during this time so you don't have to worry about keeping your house picked up (that ALONE would convince me)!
Of course, there is the possibility that a local buyer will be out of town enjoying Spring Break over this time. So if you think your target buyer already lives in Bend or Central Oregon, you might want to wait until after Spring Break.
Another indirect effect of spring break is rising interest rates. So far this year, we have not seen interest rates slow buyers down. However, if they rise as much as expected, rates could limit the number of buyers looking at your home.
Finally, Bend summers are spectacular and sometimes feel too short! Home sellers, and buyers, should be excited by the idea of relocating and settling into their new home between late spring and summer. This way, you will have time to relax and enjoy the lazy days of summer and prepare for the upcoming school year. Now everyone is different, you may prefer having a relaxing Spring and making the move once school is out for the summer.
With intermittent snowy days in Bend, it may still feel like we are in the middle of winter. I checked the calendar; trust me, spring is just around the corner! If you or someone you know plans to sell their home this year, it is worth considering the timing carefully. There's little to lose and a good amount to gain while beating other sellers to the punch and getting in front of rising interest rates.
Would you like to know the current market value of your home? Click the link, and I will provide you with a free market analysis.