Maybe you’ve outgrown your home. Maybe you’re looking for a change of city or town. Whatever the reason you want to sell your home, it’s important to know the best time to put it on the market. That way, you can sell fast and get the best price possible.
Read on to find out the best times to sell your home.
Spring or summer - Warmer months tend to be known as some of the best times to sell your home. First off, prices tend to be higher since most people list their houses around this time, and houses are much in demand.
“It sounds counterintuitive, but it’s a function of demand being very seasonal, driven by weather and the school year,” says Chief Economist of Realtor.com Jonathan Smoke. As a bonus, listing your home in the spring and summer could improve the appeal of the house.
“There is no real curb appeal [in the winter], as there is in the spring. We miss the beauty of green lawns, flowers and in-ground pools,” says Linda Mossman, a realtor with Realty Executives Boston West in Boston.
After the influx of listings - We just established that the most popular time of year to list is the spring or summer, so naturally, there tends to be an influx of houses listed once spring begins. A great time to list is right after that influx hits, say two or three weeks.
“Once buyers have been drawn into the market, they start looking online, but they haven’t yet selected which home to buy. Pay attention to listings on the Internet in your neighborhood and wait until two or three weeks after new listings start to bloom, and then you hit a sweet spot,” says Spencer Rascoff, CEO of Zillow, the nation’s No. 1 real estate website.
When rent prices increase - At times when rental prices are on the rise, people who previously rented an apartment might decide it’s a good time to buy a home.
“Every time there’s an increase, it triggers the decision processes on whether [renters] should go into the market and buy,” says Budge Huskey, president and CEO of Coldwell Banker Real Estate. Another advantage to this is that first-time homebuyers tend to help sellers feel more comfortable about their prospects.
“It allows others to move up the chain in the market,” Huskey says.
During the holidays - “Many people consider the holiday season the worst time to sell a home; it’s the time of year when homeowners are hosting family members, putting up favorite decorations and planning vacations,” says Patty Spiller, president of the Bryan-College Station Regional Association of REALTORS. Nevertheless, it actually makes a great time to list; the competition is much reduced and means buyers might actually be willing to pay more for your home.
“Most buyers who aren’t incredibly motivated will put off a home search during the holidays and pick things up again in the spring,” Spiller says. “If someone is touring homes instead of celebrating the season with friends and family, they likely need to buy a home quickly and could be willing to pay more.”
When your home is in tip-top shape - You don’t have to spend thousands renovating every aspect of your home, but it does pay (literally) to make it look its absolute best before listing.
“Spend just a little bit of money sprucing up the home, improving the bathrooms, and you’ll get a much better return,” Rascoff says. For example, update the old linoleum floors or simply get rid of everything personal to create a new, good-looking home that buyers will love. Staging your home also makes your house look great. Staging is a great way to get buyers to go out and view that property, and really take it into consideration when they might not have otherwise.
If you’re selling your home, call or stop by to find out the options we have for you.
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