Think the Best Time to Sell Your House is the Summer? Guess Again!
The Time Is Now
Many people don't know the best time to sell your home. Limited housing inventory coupled with an influx of home buyers and lower interest rates over the last few years had put South Bay home sellers in the driver’s seat. In fact, multiple offers driving up home prices had been commonplace. Recently, however, extra housing to choose from, more days on the market and price cuts have become the norm, prompting sellers to long for the good ol’ days.
Therefore, home sellers expecting quick sales should make sure they get their properties in top shape as soon as possible because the best time to list your home is fast approaching! According to a study done by realtor.com®, the ideal week for a seller to enter the housing market is March 31st to April 6th. Researchers analyzed trends over the past 3 years in 50 of the largest real estate markets in the U.S. to determine the best time to sell your home. They found that during this week, homes average a 6% higher list price than the beginning of the year. Furthermore, they tend to gain more views online and sell approximately 6 days faster! Inventory usually shoots up in late spring, so homes listed during this “golden week” also see less competition.
What's Changed?
Though historically homeprices do not reach a peak until June, interest rates are expected to riselater this year. According to Freddie Mac, the 30-year fixed-ratemortgage dropped to 4.31% last week, and buyers are sure totake notice. This could prompt an early spike in the market, and as stated by realtor.com®’schief economist, Danielle Hale, “Sellers have to think about the competition ina way they haven’t before.” She adds, “Getting ahead of other potential sellerscould be even more of a bigger advantage this year given market conditions.”
This recent study leaves sellers with very little time to get their home market ready before the March 31st deadline. From decluttering, cleaning, and making sure all the necessary repairs are made to get top dollar in today’s market – the task can seem impossible. But we assure you, it can be done! From our in-house construction crew to our experienced local realtors, Levine Homes has got you covered. We offer a free consultation with a priority list of exactly what needs to be done to get the house looking great, the timeline, and the best market price for your home. Additionally, our construction crew and our extensive network of qualified professionals can assist with repairs, giving you peace of mind and the time to focus on everything else in life.