Is Your House Not Selling? Here's Why Staying On the Market Might Be Your Best Bet
It's frustrating to see your home lingering on the market longer than you'd hoped. You might be tempted to withdraw your listing and wait for potentially greener pastures in 2025. However, pulling out of the market now could result in missed opportunities and potential losses. Let’s explore why maintaining your listing could be a strategic advantage.
Many Sellers are Withdrawing – Should You Do the Same?
According to The FLEXMLS data, there have been 23 cancellations in Otter Tail County since September 1st, 2024. Leaving about 300 homes still up for sale in Otter Tail County. While it’s common for inventory to decline as we head into winter, following suit this year might not be in your best interest. Market trends show a seasonal ebb and flow, with inventory reducing from November through February, but withdrawing your listing now could mean missing out on serious buyers who are still actively looking.
Serious Buyers are Active Now
This period is typically filled with highly motivated buyers, ready to act. Many have been patiently waiting for improved affordability, and with mortgage rates recently declining from peak levels, they are now prepared to buy. These buyers have deferred their needs previously and are more driven to purchase compared to the typical seasonal trends. By keeping your home on the market, you tap into this pool of eager buyers, increasing the likelihood of a sale.
While some homeowners are choosing to delist, this might not be the optimal decision for Otter Tail County homeowners. Given the current market dynamics with motivated buyers, this is an opportune time to sell.
