There are many factors to consider when putting your home on the market. It is important that the home is priced as close to the market value as possible. If the home is overpriced, then the home is at risk of sitting on the market and this may result in a lower sales price. There are many considerations to take into account when pricing your home to sell. Having an agent that is highly educated in the current market conditions is a must. The consequences of overpricing could result in few or no showings, and ultimately no sale. When a home has accumulated too many days on the market it can be a red flag to a buyer. They may wonder why it is sitting on the market for so long and what is wrong with the home. When you are putting your home on the market it is not the time to “test” the market and overprice your home.
Choosing the optimal time to sell your home is crucial for the best selling experience.
Springtime is considered the best time of year to list a home. More specifically, the best month to sell is within the first half of May, specifically on a Saturday. Homes listed for sale in this window nationally sold almost two weeks faster than average with an additional $2,500 added to the final price.
Things to think about:
Stay in tune with the balance of both buyers’ and sellers’ markets in your area. If the number of available properties exceeds the number of buyers, a home will stay on the market long before receiving an offer. This can lead to a seller lowering the price, cutting from the profit goal.
If you are in an area with a seller's market, you’re in luck! With more potential home buyers in the area than available properties, a seller can expect a quick turn around with multiple offers.
Regularly evaluating the job market can also be a guide for when to list. If the market is high, there are likely job seekers in the area on the search for their new space.
A higher mortgage rate on a home may decrease the likeliness of it being attractive on the market compared to a low mortgage where buyers are apt to buy.
It is recommended to take at least two months to prepare before listing your home. Take this time to do research on your local market, hire an agent you trust fully, tidy up the house and/or make renovations, and anything else to prepare your confidence and ensure a smooth sale.
The last thing to remember is the best time to sell strongly depends on the seller's state of mind. It’s important to be prepared for anything, such as a job change, emotions that come with selling a home, and anything else that could affect an outcome.
If you are interested in selling your home, Boulder Bay is where you can start. For more information, visit their Facebook page here.
259 Indiana Ave Suite B, Valparaiso, IN 46383
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