Is it time to move?
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 we’re living in. While there’s no magic formula for determining the best time to sell a home, there are however, several factors you should consider.
- The least ideal time to sell — This likely won’t come as a big surprise: you should be cautious if trying to sell your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? Fewer people are really itching to buy, and offers that do come in are often lower than desired. So as a general rule of thumb, be extra aggressive with pricing, extra sharp on presentation, and more patient while waiting for offers during the months of December and January. That being said, homes do sell during the winter, when the right strategy is implemented. A Realtor can help guide you to achieve the best results possible during these months. The fact is that homes sell year round; it’s all about adjusting your strategy to fit the market.
- The best season for selling — Conventional wisdom dictates that the spring and summer months are the best time to sell a home. In spring, the holidays have already passed, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. Consequently, these times are also when the greatest number of motivated buyers are in the shopping pool. It’s all about supply and demand, so this is also the time when inventory is at its highest. This means lots of competition, so if you’re going to sell in spring or summer, then you really need to get your property to stand out with effective marketing, staging, and most importantly, pricing. Again, a good Realtor will guide you to help you take advantage of the market.
- The best day for selling — According to research, Monday or Tuesday is the best day of the week to list your home for sale. This gives your listing time to hit all the websites, get some attention from shoppers, and be added to the “weekend shopping list”. More and more buyers are starting to plan their viewing schedules throughout the week, so they can be ready to go when the weekend arrives. Come Saturday – the busiest day for real estate – your home will prepped and ready to show at its best, which is great for attracting full-price offers. In general, the better the home shows and the shorter amount of time it’s on the market, the higher the offer you’ll receive.
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