Is It the Right Time to Sell Your Home?
Posted by Garman Group on
If you’ve been thinking about selling your home, take a look at the housing market first. The reality is that there are certain times when it’s “better” to sell. Is now the right time for you?
Is It a Seller’s Market?
A seller’s market is when the market is saturated with buyers looking for real estate, yet there aren’t enough houses for sale. This generally results in being able to ask top dollar for your home. In some cases, you may even get over your asking price. In a seller’s market, it’s not uncommon to see bidding wars over homes that wouldn’t usually get much attention, as well as homes being sold quickly.
Is Inventory In Your Housing Market Low?
No matter if it’s a seller’s market or buyer’s market (when real estate inventory exceeds the number of buyers looking for homes), it comes down to the inventory in your neighbourhood. If you’re the only home for sale in your area, especially a desirable area, you have a higher chance of selling, even during a buyer’s market.
Sell During the Spring & Summer
Typically, people like to move in the summertime. So, most people looking to move start searching through the MLS listings for a new home in the springtime. So, if your house is up for sale during this time, it’s likely to gain more interest than if it’s for sale during the fall and winter, when fewer people are traditionally looking.
Look at Your Finances & Other Circumstances
Maybe your home is becoming too much of a financial burden for you. Or it could be that you’re having trouble keeping up with the housework because you’re physically incapable. In these cases, it may be worth selling your home as quickly as possible.
Continuing to put money and energy into a home that is draining you in any way to wait for a “better” time to sell usually isn’t worth it.
You Must Move Now
Let’s say you’ve just accepted a new job in a new city, or there’s some other reason why you have to move fast. Of course, you may wish to look at your other options like renting it out or keeping it empty until it’s a better time to sell.
But realistically, most people need to sell their home to buy a new one, and you may not wish to rent from afar or leave your home empty. In which case, you’ll likely go ahead and sell your home, no matter what the market is like.
You’ve Consulted with a Qualified Real Estate Agent
If you’re thinking of selling, talk to a qualified MLS REALTOR®. They’ll advise you of all your options and let you know when the best time to sell is.
When you work with a Garman Group REALTOR®, you can be assured we’ll not only advise you of your best options, but we’ll work to get you top dollar for your home, no matter when you decide to sell. Contact us today for more information.