Selling your home can be a big decision, and timing can play a critical role in the success of the sale. Choosing the right time to list your home for sale will have a significant impact on the amount of return you can make on your investment. And while the best time to sell a home varies depending on a variety of factors (including the local real estate market, the condition of the property, and the seller's personal circumstances) here are a few general guidelines to consider:
Traditionally, studies have proven the best time to list your home for sale is usually between the months of May and June. During this time, the weather is pleasant, and people are more likely to be out and about, making it an ideal time to showcase your home. Additionally, many families are looking to move in the summer to avoid disrupting the school year. Historically, this also means that there is more competition in the market during this time; however, limited inventory in our current market can also prove to be even more beneficial for those looking to sell their home.
In a market with limited inventory, sellers may be tempted to price their home higher than it's worth. But overpricing can actually turn off buyers - leading to a longer time on the market or potentially losing a deal if the property does not appraise out for the selling price. It is important to work with a local experienced real estate agent who can help you determine an accurate market price that will attract buyers.
Additionally, when a property is priced right, sellers have a higher probability of receiving multiple offers. It's important for sellers to still be open to negotiation and consider all offers carefully in any market. Not always is a higher offer price the best opportunity for a successful closing. Reviewing the strength of the buyer's offer with your real estate agent can help insure the buyers have a strong offer that will has the highest probability of closing and securing your return.
Lastly, in any market - but even more important with so many potential buyers - it's important for a property to stand out. By working with a real estate agent, sellers can improve your their potential buyer reach through a strong professional marketing plan.
As an active Reatlor® representing current buyers and sellers, I can provide specific insights to the best ways of preparing your property for the current market. Let's connect today to discuss how you can leverage today's market to ensure the highest return value on your property.
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