Keeping Your (Price Cut) Powder Dry
If a tree falls in a forest and no one is around to hear it, does it make a sound?”
If you have to take a price cut, when is the best time to do it? (See also, “Nurse, I Need a Price Reduction, Stat!”).
Put it this way: the worst time is Christmas Day, Thanksgiving, or some other time of year when very few serious home Buyers are paying attention.
So, logically the best time would be . . . when the market is most active.
For single family homes in the weather-challenged Upper Midwest, that’s typically Spring, followed by early Fall.
But does that timetable also apply to condo’s?
Condo Sales Seasonality
To find out, I researched the last 20 or so sales — going back the last two years — in the building where my client’s condo is located.
Sure enough, sales activity peaked in the Spring, and spiked again in the Fall.
Therefore, the best time(s) to get Buyers’ attention is just ahead of those two periods.