14 Nov
When Should I Sell?
Posted by Alice  |  Real Estate

When should I sell?
This is a question that homeowner’s ask when they are thinking about putting their home on the market within the next year or two. A Realtor’s answer is always, “right now.” We say that because, yes, we would love the honor of listing your home; but also, because we truly mean right now is the best time to sell. We don’t know what the mortgage rates are going to be 6 months ahead, what financial state the country is going to be or what the housing market will be like. We read reports and listen to the trends, but we do not have a crystal ball to tell us what will happen. We hope the housing market will continue to get better, as it has been improving throughout 2012. However, we only know what the current market is right now, in addition to information based on past trends.

What season should I sell?
Waiting until spring is traditionally the rule of thumb. However, this is a time to go back to Economics 101. Supply and Demand may be able to answer your question. When a lot of homes go onto the market but there are not a lot of buyers, your home can sit on the market longer and price can go down. When there are not a lot of homes available for sale and there are a lot of buyers, your property suddenly becomes more competitive and a buyer can be found much easier- assuming it is priced accordingly. The best time of year to sell is usually based on your personal situation and also how much buyer activity/demand is currently in the marketplace.

Spring: Buyers are out looking and a property can get maximum exposure during this time. Additional, many buyers are starting their search in the springtime. They want to make sure they see everything before making a decision.

Summer: Lots of inventory and plenty of buyers. Typically this is a very busy and competitive market.

Fall: Inventory is lower and buyers are trying to wrap things before the holidays. Buyers typically are ready to buy.

Winter: Inventory is typically at its lowest point of the year and showings can be far between. However, buyers are serious. They will not be wasting their time in the cold, ice, and snowy weather.

As you can see there are pros and cons to selling your home during various times of the year. Once you have decided it is time to sell, there is no reason to wait. Right now is truly the best time to sell, since you know what the current market conditions and inventory levels are at.

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