Traditionally, spring and summer produce the highest sales in the Tulsa real estate market. Nicer weather encourages home buyers to hit the pavement in search of their next home. For families, finding a property before the kids start back at school in the fall spurs their home search. Now that winter is knocking on our doors, have you missed the boat for selling your Tulsa home? Should you just sit tight until the spring? No. Truth be told, now is a great time to sell.
Why Selling Your Tulsa Home in the Winter Makes Sense
Low Inventory
Supply chain issues continue to plague just about all areas of our life. Groceries. Christmas presents. Real estate. Construction material shortages put a damper on new construction earlier this year. That placed an even bigger strain on an already low housing inventory. Even though fewer buyers look for a home at this time of year, the ones who do look tend to be much more serious about it. We see that in the amount of time a home stays on the market before going under contract. Get your home out there for these buyers to see.
Prices Have Begun to Ease Up
Another reason why selling your Tulsa home in the wintertime makes sense? Peak sale prices appear to be over. According to Realtor.com, the median sale price hit its zenith back in June 2021 ($222,000). But since, then, they’ve begun to come down. As of October, the median sale price sat at $199,450. Trends seem to indicate that they will come down even further. So, if you want to sell your home for top dollar, it is better to list it now than to wait.
Interest Rates Are On the Rise
We continue to see interest rates at historic lows. But recently, they’ve begun to creep up. This makes it a little more expensive for buyers to purchase a new Tulsa home. In turn, it might make them wait to see if rates come back down before they buy. It also may mean lower offers coming in on a seller’s listed home. Therefore, if you wait until spring to sell your Tulsa home, you run the risk of fewer buyers out looking for a home. That means less traffic to your door and fewer chances to find the right buyer for your property.
If you really wish to sell your Tulsa home, there is no time like the present to do it. Contact me as soon as possible. We can put together an excellent game plan to get your home sold during the wintertime.
Lori Cain, REALTOR® Serving Midtown and the greater Tulsa, OK area. Call 918-852-5036.
[…] Tulsa homeowners. Wintertime is still a great time to sell your home. While our peak selling time usually comes in the spring, buyers still need homes right now. So, […]