When Is the Right Time to Sell?
Wow! What a market! Are you’re thinking about moving the family into a new home? Before you start searching for your next dream home, you’ll need to figure out when to sell your existing home. The decision is a complex one, especially considering the stellar sellers market in which we are mired. While there is no magic formula for determining the best time to sell a home, there are several factors that you should consider.
The wrong time to sell
This likely won’t come as a big surprise, but there are times when you sit back and wait on things to change. You should avoid selling your home during times when there are multiple homes listed on your street. Too much competition drives sales prices down. There are exceptions…perhaps you’ve got tons of equity in your house, but your neighbor doesn’t, go ahead and list it at fair market value and be willing to negotiate. Lucky you, you will still come out ahead!
The winter holiday season is tricky, as well. Sadly, tensions run high during the holidays and budgets run low. Just know that if you list during this time, you might get low ball offers or your home may sit on the MLS for a while.
The best season for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. While spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging. Hire an excellent agent to help you through this process!
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive. A side note to this: Right now, in Middle Tennessee, there is no bad day to list!