One of the most common questions that home owners ask their realtor when they’re looking to put their home up for sale is, “When is the best time to sell?” Essentially what they’re asking is, “At what point can we get the most money for our house?” There are a few factors that go into answering such a question.
Season - The holidays and inclement weather conditions do play a role in how easily and quickly you can sell your home. Not too many people go around house hunting during the Christmas holidays, nor do they tend to pound the pavement going from one Open House to another. Sales tend to lag in late August and into the fall as well, since families are still on their summer holidays, and parents are less likely to uproot their children during the early part of the school year.
Late spring and early summer are usually the best times of the year to sell a home because it’s through the spring months that buyer demand tends to build steadily and strongly. Sales usually peak during the nicer months of the year when it’s easier to make your home show better.
Local Housing Market - The local housing market in your area should also be closely looked at. It’s ideal to sell in a seller’s market, when the demand for homes is high. With more competition among buyers, you have a better chance of selling faster, for a better price, and with fewer conditions on the offer. On the flip side, if you’re in the middle of a buyer’s market, you might be in a good position to buy a new house, especially if you’ve got a lot of equity built up in your current property.
Try not to list your home in a quiet market. Homes that sit on the market for more than 8 weeks after first being listed can become “stale”, which can make buyers seem suspicious that there may be a problem with your home. This could negatively affect your chances of getting a good price.
Speaking with an experienced real estate agent can help you make the right decision about when to sell in order for you to get the most for your home. Learn more about selling with the W & Y Homes Co. Team here