After you have made the decision to sell your house, you may ask the following question: “Is now the right time to sell my house?” While there is no single answer, it is possible to consider these three factors when deciding the timing of the sale.
- It doesn’t matter if it’s a seller’s or buyer’s market
- Your personal timeline
- The year
This article will help you determine the best time to sell your home and provide insight into these key elements. Our Guide to Selling Your House has additional information.
The Buyer’s Market Versus the Seller’s Marketplace
Here are some definitions.
This scenario would mean that there are more homes available than buyers, and therefore, more people will be looking to purchase them. You may need to negotiate with buyers more if you want to sell your house in a buyer’s marketplace. This could be on the price or other terms. You can make your home stand out by making repairs, improving curb appeal and staging it effectively to give you an advantage.
This situation means that there are less homes available for sale and more buyers looking to purchase one. In this economic climate, you might get more money for your house and have many offers to choose from.
Although you can sell your house in any of these economic situations, it is important to understand their impact and what conditions are required to make the sale. You may also find that the economic situation can differ by where you live. You might find that more desirable neighborhoods have sellers’ market conditions, while those in lower demand may favor the buyer.
Sometimes, the economic environment is balanced and neither buyer nor seller has significant advantage in negotiations. In balanced market conditions, the demand for homes is greater than the supply.
When deciding when to list a house for sale, this can be a significant factor. How quickly can you move if you are moving for a job?
It is a good idea to select your agent at least six weeks prior to you plan to list it for sale. There are no set rules. The amount of repairs required will determine the timeline. To go through your belongings and decide what you want to keep, give away or store, stage your home, and prepare for a sale. These items will take longer than expected so allow yourself to deal with them.
Many people think that the best time to sell your home is the year. It’s simply a question about the year. The best months to list your home are April, May and June. Experience has shown that the first half of July is the most popular. Some locations have the best results in the first half of May, which is a way to narrow down the year-end question.
It can vary depending on where you live, but in general, longer days seem to facilitate real property transactions. Many people want to move during summer, when their children are not at school. This will allow their children to settle in at the new school immediately after the start of the academic calendar.
What about the worst month for selling a house? The holiday season and darker days can make December less fruitful. Although this may not be true for everyone, it is something you should consider when you decide to list your home.
There’s also the day of week. One study shows that real estate agents often list new homes for sale on Thursdays. Buyers and other interested parties can review the latest listings before they plan their weekend of open houses, etc. A Friday is a good day to list a house for sale.
A Sunday listing seems to be the least productive day for a home because potential buyers may be available on weekends. However, it is possible that listing your home on a specific day of the week won’t have the same impact as before. This may be because more people are now searching online for listings. It is important to ask this question to a local real estate agent. Because it can vary from one location to the next.
This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for coral ridge homes for sale in Fort Lauderdale, we are the real estate team for you!