Selling Your Home: The Basics
Perhaps times are changing, and so now you’re thinking about moving into a new home or liquidating some of your real estate assets to make way for bigger and better things. Before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The wrong time to sell
It is often thought that the winter months are the worst time to sell your property, but in our area, there are fewer implications than perhaps in other areas for selling during the holidays versus in the spring when everyone else is listing their homes. Overall, the best time to sell is always subject to your own personal timeline, financial position, and economic factors that may make you want to take advantage of the market or hold off for possibly better opportunities to sell.
The best season for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have passed, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And 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.
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 the amount of time your home remains on the market, the higher the offer you’ll receive.