When a house is listed with a real estate company and does not sell within a few months, it can be frustrating for the seller. If you want to avoid this frustration by being able to sell your house fast, you may want to be selective with your timing. Timing your listing can make a difference in the price you get for your house and in the speed of the sale. Here is more information you should know about timing your listing for your benefit.
The Season Matters for Speed
According to most statistics and experts, houses tend to sell faster in the spring. Spring is a season when the weather begins to change and people feel excited for summer. This excitement leads to a variety of decisions, and many people make the decision to start home shopping once this season hits. June is the month when home sales typically peak, but shopping for homes typically begins around March or April. Homes also tend to look nicer in the spring, which is an attractive trait for buyers.
Because of this, you may want to start talking to a real estate agent during February or March at the earliest. You do not necessarily have to list your home when you initially talk to an agent, but you can ask questions and learn more about selling your home. One issue to discuss with an agent is the price of your house. Choosing the right listing price can also have a big impact on your ability to sell your house quickly. By April, you should consider getting your house on the market so you do not miss any of the spring home shoppers.
The Season Matters for Price
In addition to being able to sell your house faster if you list it in the spring, you may also end up getting a higher price for your home. According to Zillow, houses that sell in the spring typically sell for around 2% more than usual. While 2% may not be a huge amount, it can make a difference.
For example, if your house would have sold in the fall for $200,000, you might be able to get $204,000 if you sold it in the spring. That is an extra $4,000 in your pocket just by timing your sale properly.
A Sellers' Market Is Beneficial
Finally, you should realize the difference between a sellers' market and a buyers' market. A sellers' market refers to time periods when it is most beneficial for people to sell their homes. Some of the characteristics of a sellers' market include:
- Large number of people looking for homes
- Limited number of homes on the real estate market for sale
- Low interest rates
- Low unemployment rates
- Positive view of economy and the future
These characteristics are all beneficial for sellers because they cause the prices of homes to increase and the chances of selling to improve. Sellers' markets do not occur at certain times of the year, and they do not even always occur each year, but they do happen periodically.
A buyers' market, on the other hand, refers to time periods when buyers can land great deals on homes. During a buyers' market, there are a lot of homes for sale and the prices of these homes tend to drop.
If you are not sure when to list your house or how much to ask for it, talk to a real estate agent for more information. An agent can help you with these questions, advise you every step of the way, and can quickly find a buyer for your home.