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How To Find The Best Time To Sell Your House
Thinking about listing your house soon, and wondering — after all the unsettling news you've heard about the market — whether the spring is a good time to do so? Well, our REALTORS® would tell you yes, sure, but with some cautions. Here are some things to think about if you're going to list your house among Beavercreek homes for sale.
What About the Market?
Yes, it's true — the bidding wars of last year are over for now, but just so you know: it's still a seller's market. True, the market topped out last year with average home median prices at an all-time high of $450,000 but then fell to $406K in January. However, prices are creeping up again. What's more, median list prices are still 6.3 percent higher than the same time last year. And that's despite the concerns about higher interest rates.
When Is a Good Time to Sell?
The real estate market is cyclical, with sales generally declining in winter, and then upticking in the spring. One of the best months to sell a home used to be in May, but now it's March. According to some real estate sites, winter is a great time to sell. There's less competition, and your home may get more attention, they say.
Traditionally, however, October has been recognized as the worst time to sell a home and likewise the worst time to maximize gains.
According to some, there's even a best day to list your home. Thursday listings are said to go faster than those of other days, while homes listed on Sunday may sit on the market as much as eight days longer than Thursday listings. Saturday and Monday listings are also not recommended, as they may take seven days longer for a home to sell than those listed on a Thursday.
What About Interest Rates?
Interest rates were recently raised again. It's probably not realistic to expect them to go down right now, so it may be best to proceed with your sale.
Getting Ready to Sell
Since spring may be the best time to sell your home, that means you can use the winter months to prep your home. You may not be able to do much with the exterior, but you can do a lot indoors. Start by going through the house and making a rigorous evaluation of what you can get rid of. You won't want to move everything you've accumulated, and what's more, you'll make the house breathe better so potential buyers can imagine themselves in it. Start with clothes and shoes, toys, old personal items that probably don't mean that much to you anymore, dishes, pots and pans, and whatever else. Toss it in the recycling. Sell it at a garage sale. Set it on the curb. Just get it out of the house during the winter so you can clean up in the spring, prior to listing your home.
You can also start to do a major cleanup indoors. Clean out closets. Go to work on the oven. Organize and clean the garage, basement, or attic. Once the weather warms enough to crack a window, you can start to paint the doors, trim, cabinets, and other worn and faded places.
Do you have other questions about when to sell your home? Contact Wright-Patt Realty.