Spring Is Here: Should You Put Your Home Back on the Market?
If you took your house off the market in late 2024, you weren’t alone. According to data from CoreLogic and the Wall Street Journal, nearly 73,000 homes were withdrawn from the market in December—more than in any other December since 2017. Sellers paused their listings for a variety of reasons: slow offers, the holiday season, or a desire to wait for better market conditions.
But with spring approaching, now is the time to reassess. The market is already picking up, and if you wait too long, you may face even more competition from other sellers. Here’s why relisting now could be the right move.
Why Now Could Be the Right Time
Spring is traditionally the busiest season for home sales, as buyers emerge ready to make a move before summer. Selma Hepp, Chief Economist at CoreLogic, explains that many sellers who pulled their listings last year were likely waiting for spring to re-enter the market:
“Another reason for a step back could be that sellers wanted to wait and see how spring home buying season goes, and if mortgage rates fall, which would bring more home buyers and competition back in the market.”
While mortgage rates haven’t dropped dramatically, they have declined slightly, which has already started attracting more buyers. Since January, market activity has increased, and this trend is expected to continue as the season progresses. That means a better chance of selling your home at a desirable price.
How to Approach Your Home Sale Differently This Time
If your home didn’t sell last time, don’t just relist it without a strategy. Here’s what you need to do differently to improve your chances:
1. Check Your Listing Agreement
Before you make any moves, review the status of your listing agreement. If you pulled your listing but your contract is still active, your current agent or brokerage remains your best resource. Realtor.com advises:
“If you aren’t sure of the status of your listing, whether active, expired, or withdrawn, take a look at your listing agreement and talk to your real estate agent.”
If your contract has expired, you have the flexibility to consider other agents or strategies. In either case, a discussion with a real estate professional will help you develop a fresh approach to selling your home.
2. Reevaluate Your Pricing Strategy
Was your home priced correctly the last time it was on the market? Overpricing is a common reason homes sit unsold. A competitive price can generate more interest, leading to multiple offers and even bidding wars. Work with your agent to analyze recent sales in your area and set a price that attracts buyers without undervaluing your home.
3. Upgrade Your Marketing Approach
Did your listing photos highlight your home’s best features? Were your staging efforts effective? Small changes in presentation can make a huge impact. Consider these strategies:
- Professional Photography: High-quality, well-lit images make a big difference in how buyers perceive your home.
- Virtual Tours and Video Walkthroughs: These features give buyers an immersive experience before they even step inside.
- Staging Updates: Now that spring is here, update your decor and landscaping to reflect the season’s fresh, inviting vibe.
4. Be Open to Offering Buyer Incentives
With more homes coming back on the market, competition is increasing. One way to make your listing stand out is by offering concessions, such as:
- Mortgage Rate Buydowns: Helping buyers secure a lower interest rate can make your home more attractive.
- Closing Cost Assistance: Covering part of the closing costs can ease the financial burden on buyers.
- Home Warranties: Providing a home warranty can give buyers peace of mind.
If you weren’t open to these options before, it might be time to reconsider how you can make your home more appealing to today’s buyers.
5. Increase Flexibility for Showings
Limiting showings can turn off potential buyers. The more accessible your home is, the more likely it is to attract serious offers. If your availability was restricted last time, try to be more flexible this time around.
Bottom Line: Spring Offers a Second Chance
If your home didn’t sell in late 2024, spring may be your best opportunity to re-enter the market successfully. Buyer activity is rising, and with the right strategy, you can make the most of this renewed demand.
The key is to take a different approach this time—review your pricing, enhance your marketing, consider offering incentives, and stay flexible with showings. Talk to your agent today to develop a plan that will position your home for success.
Are you ready to take advantage of the spring market? Reach out to your agent now to discuss your next steps.