Recent question asked by one of my clients were!
I have always heard that houses sell in spring and summer since school is out....but is the market overly saturated at that time? Is there a better time for a seller to sell?
Answer:
houses typically sell or hit the market in spring and summer because of foliage blooming and whatnot, filling in of plants and trees can add such beauty to a house that a lot of people want to wait until then. I think in this market that one need to price aggressively ahead of the market in either direction it is heading in order to get the most for your house and move it quicker. So if the local market is down 6%, price it 8% lower and you will most likely get a multiple bid situation. Houses are selling that are priced correctly....the most important thing that anyone or any Realtor can take from this post is price ahead of the market. If the market is still dropping, price it slightly lower than the best comps and it will sell quickly and closer to asking price.
Those times of year the inventory skyrockets.....why not get on the market a little earlier so you are not competing with so much more inventory because everyone wants to list March 1st.....
Those times of year the inventory skyrockets.....why not get on the market a little earlier so you are not competing with so much more inventory because everyone wants to list March 1st.....
Real estate transactions happen all year. Even during the Thanksgiving - Christmas time period. People move for a variety of reasons - job transfer, marriage, divorce, birth of a child (outgrowing current home), etc.
when buyers can time their moves they do often try to do so around the school calendar so that they do not have their children change schools in the middle of the school year. This is why many sellers wait until spring or summer to list their home. True this can create a greater supply (and more competition for a seller).
When you contact agents to come by and provide you with a market analysis - ask them to give you stats for sales in your area by month over the past few years. This may help you identify a trend. Also ask about average days on market for homes listed in March vs. those listed in Sept. This may also help you pinpoint a listing time that you are comfortable with!
when buyers can time their moves they do often try to do so around the school calendar so that they do not have their children change schools in the middle of the school year. This is why many sellers wait until spring or summer to list their home. True this can create a greater supply (and more competition for a seller).
When you contact agents to come by and provide you with a market analysis - ask them to give you stats for sales in your area by month over the past few years. This may help you identify a trend. Also ask about average days on market for homes listed in March vs. those listed in Sept. This may also help you pinpoint a listing time that you are comfortable with!
The one thing we in WNY have to worry about is the snow we get through out winter months. We Western New Yorkers don’t have the privilege to see what the lawns may look like around that time of year.
To conclude the most accurate answer is that it depends on where you live. There are many considerations that factor into when the best time is to put YOUR home on the market.
Neighborhood, price range and; the time-frame you have that you need to be out of a house are just a few of the important criteria you need to consider for when is the best time to put your home on the market.
If you would like help in determining what the best time is for you, feel free to get a true assessment of your home get a FREE Home Value. I'll be happy to help you assess your situation with no obligation or charge.
Mark Key
Realty Edge INC
716-603-8649
mkeyrealtor@gmail.com
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