I am often asked when is the best time of year to sell a house. Clients and buyers wonder if the best time is Spring when the trees are blooming and flowers are at their peak. It depends. There are several factors which should be considered before you put your house on the market. Some of them are merely business decisions but the main ones are purely personal. Do you really need to sell if this is not the right time? Can you afford to wait it out? Are you moving for a new job and cannot afford two house payments? Are you going through a divorce and will be mandated by the courts to split proceeds of the house sell?
These questions are personal and must be answered by you before you determine the right time to sell. That being said, however, if you find that are ready to sell but you could wait – here are some business considerations on the right time or season to sell.
- Is it a buyer market or a seller market? A buyer market is one where the person who will be buyer has more control. He or she can more easily establish the price, whether they contribute to closing costs, and more. A seller’s market is simply the opposite. The seller is the one in the driver’s seat. The home will often sell for more. The buyer may pay for a majority of closing costs and may have little wiggle room in the way of negotiations regarding the home. In a seller’s market, you will typically see more new houses being developed and the real estate market pricing will be higher.
- Is your home more visibly appealing in one season versus another to the point that it makes more sense to sell in a specific time of year? For example, if you have a large pond in your home surrounded by flowers or trees that enhance the property significantly during the summer, you may want to consider that time of year. If your home is surrounded by hardwoods that boast wonderful fall color, you may want to promote it during that time.
- The most important consideration, business wise, is to locate an experienced and reputable agent. You want one who knows the area. She will have the ability to locate recent trends in your area and see what time of year people are most likely to purchase. She will also look for the best way to promote the assets that your home provides.
Finding the right person for the job can help you sell your home regardless of the time of year. Just because it’s winter, it does not mean your home will not sell. Some of the best markets have been in the winter months! Because the market has such an effect, a home can take longer than planned for the right offer to come along. If that’s the case, you want your home to be marketable in ANY season of the year!
If you are thinking of selling, contact me. I will help you put together a plan to present your home on the market to get the best return on your investment. If it’s not the right time to list the home, we will make a list together of things to be completed so that when it is the right time, you AND your home will be ready!