Should I Wait Until Spring To List?
I feel that in the wake of Covid and the craziness that ensued, no one is quite sure (at least not 100%) what the market is going to do and where it's going to go. Amongst this uncertainty there are a few truths and facts that we can hold onto:
Inventory is LOW. Right now in the Real Estate Market inventory is low which means there are more buyers than there is homes for sale. For this reason alone you probably should consider getting your house to market ASAP. As the market is beginning to balance you will see that fair market value now certainly isn't what it has been in past years, but in our area at least we also haven't experienced the drastic lows. THERE ARE BUYERS, and they need houses, and the fewer homes on the market means the more attention your home will receive.
Interest Rates aren't historically high or low. Although the interest rates have risen, they are now sitting around what we would have previously considered "normal" rates. Yes, you are seeing higher interest payments on your mortgage but you're also borrowing significantly less to pay interest on.
There's LOTS of people in your shoes and they're all waiting for Spring. What does that mean for you? Inventory. More homes on the market means instead of a Balanced Market it now becomes a Buyer's Market. Homes will sit longer and Buyer's will have the upper hand in negotiations. Listing and selling now doesn't necessarily mean you have to move right away - you can always do a longer closing date.
Ultimately you need to do what's right for you and your situation, but remember - if you still want to wait for Spring you need to go that EXTRA mile to make your home stand out so Buyer's see it's full potential and worth.