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Buying or Sellling a Beacon Hill condo in the Winter
It’s that time of year when people begin to ask us, “I want to buy/see but its winter time. Is it a good time to buy/sell? What should we do?” No matter how the market is performing, year in and year out it’s always the same story. Boston residents think that spring and summer are the best times of the year for Beacon Hill home buying/ selling. Many homeowners would ideally like to sell during the winter, but unfortunately they decide to wait because they think it’s not the best time to list.
Every year,in the Springtime, we see a peak in inventory here in Beacon Hill and downtown Boston. This means that if you’re planning on selling your home during those months, you’re going to have a lot more properties to compete with compared to any other time of year.
The reason for this is that by November, we’re left with the glut of spring and summer homes that didn’t sell and we move into the cold months of the year there are a large quantity of listings being taken off the market.
“When we see a huge drop in supply, we only see a small drop in demand.”
At some point in Janaury we’ll see the lowest inventory levels in the 12-month market cycle. And then, of course, people will start listing in late Febuary and March, and inventory will increase at higher and higher rates until October. Rinse and repeat every year – that’s just the way it always goes.
I always tell Beacon Hill condo sellers not to hesitate to list in the winter. There willing Boston real estate buyers, and very few competing listings. This is especially true as we move deeper into the winter.
So, when is the true best time to sell? When it makes sense for you and your family. This is dowmtown Boston, and demand is year round just like our sports teams.
