Ask an Expert: Should we sell now, or wait until the spring?

There's rarely been a better time to sell -- or a worse time to buy a two-bedroom. Here's how our experts break it down:

I suggest getting an estimate on your current home, then looking at the two-bedroom market. If you are seeing properties that fit what you want, I would think about listing your home sooner than later. Why? Mainly because when more people come to the market you will have a harder time to buy as the competition will be greater. And buying is sometimes the harder part of the equation especially in the two-bedroom market. 

As long as you assume a very realistic sales price, selling should be easy, so take advantage of a (only slightly) less active two bedroom purchase market now. I had clients looking at two-bedrooms in the spring and summer and they lost bidding war after bidding war. They just now have an accepted offer -- so I say, go for it!"

If you’re selling now, don’t wait another season, and certainly not another year, to make your next purchase. It’s too risky. I’ve been helping buyers and sellers since 1980 and have seen many cycles. In my view, it’s important to buy and sell in the same market.  Rates and prices should remain level in the months ahead. You’d need a crystal ball to forecast much further down the road."

That said, the concept of spring and autumn selling seasons is increasingly obsolete, especially in a market of tight inventory. There are buyers waiting in the wings for the 'right thing' to come along, or highly motivated because they’ve lost out on other properties they bid on. They (or their broker) have signed-up online for auto-notification of new listings that fit their criteria, and are ready to act regardless of season.

Historically, some sellers will temporarily withdraw their property from the market during the end-of-year holiday period -- Thanksgiving through the New Year’s -- simply because they don’t want to be bothered with showings. Buyer inquiries tend to taper off during that period, anyway. Conversely, as I’ve advised some buyers, the holiday period can be a good time to look for end-of-year deals with less competition."