Is It Time To Put Your House Back on the Market?

Maybe the offers weren’t coming in, the holiday season felt like too much, or you were hoping for a better market in the new year—whatever the reason, plenty of other homeowners hit pause, too.

With spring right around the corner, it’s a great time to rethink your plans. The market is already gaining momentum, and the longer you wait to jump back in, the more competition you might face from other sellers.

Selma Hepp, Chief Economist at CoreLogic, says many of those sellers may have taken their homes off the market last year with plans to give it another shot this spring.

“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.”

Spring is usually when buyer demand hits its peak for the year. As the weather warms up, more people jump into their home search, hoping to close on a place and move in by summer. That makes it a great time for sellers—more buyers means more opportunities!

Mortgage rates haven’t dropped drastically, but they have come down a bit in recent weeks. And we’re already seeing signs that buyers are getting more active because of it. Since January, demand has been picking up—and with spring on the way, that trend is likely to continue.

How to Approach It Differently This Time

First, take a look at your listing agreement. Even if you took your home off the market, you might still be under contract. Until that listing expires, your agent or brokerage is your best resource for exploring other strategies to get your home sold. Realtor.com shares this advice:

“If you aren't sure of the status of your listing, whether active, expired, or withdrawn, take a look at your listing agreement and talk to your real estate agent.”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 is still active, now’s a great time to check in with your agent and go over strategies to get your home sold this time around. If your contract has expired and you’re weighing your options, connect with a trusted real estate pro who can help you figure out the best next steps.

No matter what, take a moment to reflect on your last experience. What challenges kept your home from selling? And what changes can you make to boost your chances this time?

Make sure to loop your agent into this conversation—they can offer an objective perspective and share insights on what might have gone wrong last time, like:

Your Pricing Strategy: Was your home priced too high, causing buyers to pass it up? Your agent can help you review recent sales in your area to make sure you’re in the right range. Believe it or not, overpricing can actually cost you in the long run. When your home is priced competitively, you have a better chance of attracting multiple offers and sparking buyer competition—both of which can work in your favor!
Your Marketing Approach: Was your home staged to stand out? Did your listing photos showcase it in the best light? Small changes can make a big impact on how buyers perceive your home. Even something as simple as updating your photos now that it’s spring could make your home look more inviting than it did in the winter!
Offering Concessions: Were you open to offering incentives to buyers? With more homes hitting the market, many sellers are considering concessions to help close the deal. If that wasn’t something you explored before, it could have played a role in why your home didn’t sell.
Showings and Flexibility: Were there restrictions on when buyers could see your home? The more accessible and available it is, the better your chances of getting more offers!

The Takeaway

If your home didn’t sell last year, spring could be your second chance! With buyer activity picking up, now’s the perfect time to chat with an agent and re-enter the market with a fresh game plan.

What would you like to do differently this time? Chat with your agent to explore your options and put a solid plan in place!