When Is the Right Time to Sell?
Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially
considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The wrong time to sell
This likely won’t come as a big surprise: you should avoid selling your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? No one’s really itching to buy, and offers that do come in are often
low. So as a general rule of thumb, avoid the months of December and January when selling a home.
The best season for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees
the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home
will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.
4 Questions to Ask Before Selling Your Home
Selling your home is a big financial and emotional task, which requires lots of planning. So before you decide to put your home on the market, here are four questions to consider.
What is my home worth?
Several factors go into determining your home’s market value. These include the condition of the property, square footage, location, amenities, as well as recent comparable property sales. For a snapshot of your home’s current value, you can enter your
address into a free online value estimator tool.
How can I sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your home. These include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like adding bedrooms
and renovating kitchens and bathrooms, typically yield more substantial increases in sales price. Staging your home, which helps paint a picture for how buyers will use their new space, can also add value.
How long will my home be on the market?
The time your home spends on the market depends on several factors, including location, how competitively your home is priced, and how aggressively your home is marketed. Statistics show that if a home is properly priced, an offer should come in within
the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.
How can an agent help?
A real estate agent can help with all aspects of the selling process, from pricing to marketing to handling the intricacies of closing. An agent will negotiate on your behalf to secure the best price – and quickest sale – possible. Looking for an agent
who can help guide you through the selling process? Feel free to contact us!