23 Jan When is the Right Time to Sell My Home?
Taking the time to investigate the seasonal trends of the real estate market can end up working in your favor. If you’re thinking about selling your home, it might make sense to either strike while the iron is hot or to wait until the market shifts a little more in your favor.
Below, The Fay Group goes over everything you need to know about choosing the right time to sell your home.
What Season Should I Sell My Home?
Opendoor stresses that Spring is predominantly the best time to sell. Historically speaking, the Spring season is when a majority of transactions occur, not to mention the time of year that homes sell the quickest.
Seasonality can often impact supply and demand when it comes to the housing market. Changes can and will occur at different times of the year.
Like clockwork, new listings tend to flood the market each year around May. Pending home sales will generally spike immediately after this.
Redfin provides data suggesting that the typical home in the United States will sell around 20 days faster in May than it would in January.
Considering Your Personal Circumstances
Determining when the best time to sell your home is might simply come down to your own personal circumstances. You might be taking a new job in a new city or state, for instance, which would likely mean that your decision has already been made for you.
However, if you’re in a position to wait a few months to sell faster and perhaps for a higher price, this might be something you can pull off without too many headaches.
You might need a bigger home because of a new addition to the family, which would likely mean that you will want to sell sooner rather than later, especially if your current home is a little cramped as-is.
Is Your Home Ready to Sell?
Make sure to think about what needs to be done in order to prepare your home for sale. Focusing on minor repairs and smaller upgrades will put you in a position to sell faster than taking on larger renovation projects. If you have to sell on the fly you can always list your selling price to reflect your current home’s condition.
Investigate Your Local Selling Market
Some important questions to ask yourself about your local real estate market include:
- How fast have prices appreciated in your neighborhood?
- How does price growth compare to the area in which you would like to buy?
- Are homes selling quickly in your area?
- Has inventory piled up due to slower sales?
Taking a closer look at how home prices have changed in your area is a worthy endeavor. You can track how much your home has appreciated in value as well as how much money you could potentially make from selling your home.
Contact The Fay Group Today
With over $22 Million in sales, Elise Fay the team here at The Fay Group has developed a solid reputation as Top Real Estate Agent in the West Valley and Phoenix-Metro areas.
Our expertise in the real estate market will help you sell your home and get the most out of your investment. We work with integrity, loyalty, and professionalism. We are consistently rated as one of the best realtors in the industry. Contact us today if you’re looking to buy or sell a home.