When is the best time to sell your home?
Whether you are looking to downsize, upgrade, relocate or simply want a lifestyle change, the process of selling your home can be a positive one. As Realtors®, our goal is to help you sell your home with little hassle, as quickly as possible and for top dollar.
Before taking the step forward in terms of placing that “Just Listed” sign on your property, we recommend taking time to assess the reasons why you want to move.
- The kids have moved out and you are ready to downgrade?
- Maybe you want to start a family and need more room?
- Have you changed employment and want to move closer to the office?
- Perhaps, you simply want to change your lifestyle whether to embrace a more urban atmosphere or a suburb.
- or a factor of various other reasons…
By discovering your motives for selling, I will be able to assist you better when it comes to searching for a new home and figuring out what you ultimately require in the outcome of selling your existing home.
When is the best time to sell your home?
While more houses typically go on the market in the spring, this does not necessarily indicate that this is the only good time to list your home. Ultimately, there are always buyers and sellers so it really comes down to your situation and what works best for you. While the winter months are typically assumed to be the worst time to sell, there are many occasions that indicate otherwise. For example if a person sells their home in the fall, they will need a new home anywhere from the next month to 3 months away. This means that this person may have less inventory to choose from and therefore your property may stand out more, resulting in an increased demand and higher selling price. Alternatively, in the spring there may be more inventory and also more buyers. If the balance of buyers versus inventory in both spring and winter is on par, the pricing will remain the same or similar.
Keep in mind, your time is the right time. In most cases, the best time to sell is likely when your existing home no longer meets your needs.
Economic factors are an important factor
When selling, you may want to also take into consideration economic factors. Are interest rates low or high and how do these interest rates compare to your current mortgage? If rates are higher, your monthly payment amounts may be higher than your existing ones upon the purchase of another home. If rates are lower, it could be a great time to trade up to a more expensive home without enduring a significant increase in your monthly financial obligations.
Market trends may also play a part depending on whether it is a buyers or sellers market. Typically, in a buyers’ market, there are more homes for sale then there are actual buyers. In a buyer’s market, homes will tend to stay on the market longer and prices may stabilize or decrease. Just because it is a buyer’s market though, does not mean that your home will not sell, take longer to sell and or be sold at significantly decreased prices. By making sure that your home is priced at a fair value and is show ready, your home should still sell in a decent amount of time and at a great price.
In comparison, a seller’s market tends to have more buyers then houses available to be purchased. A sellers market typically translates into quicker sales and higher selling prices with buyers having to make decisions at a quicker pace and being prepared for potential multiple offer scenarios. Other than a buyers and sellers market, many times there is what is considered a balanced market. A balanced market occurs when the number of homes of the market is approximately equal to the quantity of buyers looking for new homes.
Regardless of the market, I am able to provide you with the most knowledge and offer resources in order to make the most of your move. Through comprehensive training in the real estate market, I can take advantage of all the factors discussed above to help assess your situation and determine the right buying or selling time that would work best for you personally.
Call today or request a free market evaluation to learn more about how we can be of assistance in the selling of your home!