Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my December 2024 market update.
As we wrap up the year 2024, it’s time to start thinking strategically about the real estate market in the first quarter of 2025. Whether you’re planning to sell or buy, or both, proper timing and correct preparation can help you maximize your results. So, let’s talk about what you need to know to position yourself for success in 2025.
If you’re a seller, the first quarter consistently offers the most favorable conditions. We’ve seen this pattern repeat without change for at least 15 years. This graph shows only a few years’ worth of data, but the pattern is consistent: homes listed early in the year attract the most attention and often sell for higher prices. The reason? The first quarter of the year typically sees a wide gap between buyer interest and available listings. In other words, the gap between supply and demand is the widest, and this tension puts a strong upward pressure on market prices. So, when you list during this time window, you’re putting your home in front of eager buyers with very little competition from other sellers, which often leads to strong offers in a short period of time.
Now, if you really want to capitalize on this market timing advantage, then make sure your home is as attractive as possible and that the marketing for it is top notch. Consider strategic upgrades, professional staging, and quality photos and videos that will highlight your home’s best features. But be careful not to overspend, particularly on home improvements and upgrades that will not raise your home’s value enough to give you a return on your investment. This is probably the number one mistake that I see sellers make. If you’re putting in a dollar and you only raise the price by 75 cents, then why do it – makes sense?
Now, coming back to the market timing, by acting ahead of the spring rush, you ensure your property stands out at the exact moment when demand peaks and supply is at its lowest. How awesome is that?
By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my December newsletter, available online and for download, for free, at Weisbarth.com/Newsletter, that’s Weisbarth.com/Newsletter.
Now, for those of you looking to buy, the early part of the year may feel like a crazy seller’s market, which might be true, but buyers who are prepared can still come out on top. One of the most important things you can do is be ready to act fast, because great opportunities don’t last long in a high-demand environment. Know exactly what you’re looking for, so when the right home appears, you’ll be able to identify it right away, and make a confident decision. The two biggest mistakes that I see buyers make are overanalyzing, which can lead to delays and paralysis, which can make you lose a good deal, and on the flip side, getting caught up in the competitive frenzy of a bidding war that ends up pushing you beyond your comfort zone. So, staying grounded, and having a skilled and experienced broker to make sure to guide you and keep you grounded, will help you stay true to your goals so that you don’t miss out on a good opportunity, but also don’t overpay.
And if you’re one of the people who are looking to both buy and sell, then in addition to the advice for sellers and buyers that I just presented, there are some more nuanced details that you would need to consider. Obviously, those details will vary based on your financial situation, your timeline, where you are planning to move to, etc. I realize that this may sound big and scary, but with the right guidance to help you navigate these details, it’s really not a big deal.
The bottom line here is that no matter how you look at it, the real estate market can be complex, especially these days. If you want to get the most from your transaction, then timing your move, and correct preparation makes all the difference. My team and I have created step-by-step systems for both buyers and sellers to help you thrive in any market conditions. We have a 5-step system for sellers, and a 3-step system for buyers, and we know that they work amazingly well, because we have the numbers to prove it.
So, if you or someone you know is looking to make a move in 2025, don’t be shy! Reach out and let’s set up a time to talk. We offer a no-obligation consultation, which means that you can sit down and talk with us, and ask us questions and explore different scenarios without having to make a commitment to work with us. We only want your business if you think that we are the right people to represent you on your transaction.
And as always, remember that by working with us, you’re also supporting Akin and their incredible work with kids and families in need. We make a substantial donation to Akin from the income from our home sales, which means that your business and referrals make a positive impact in our community.
To connect with us, you can share this video and my newsletter, send an email, reach out through our website, or, the best way, is give me a call directly at 206-779-9808. Let’s talk about your goals and put together a specific, strategic plan that makes sure that you’re ready to hit the ground running in 2025.
Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And, again, if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter. I’m Doron Weisbarth with Weisbarth & Associates, I hope you and your loved one have a wonderful Holiday Season and a very Happy New Year, and I’ll see you next year!