b-LOG: Is now the Best Time to Sell?
This is one of the most common questions that we hear. In the busier times of the year (spring for example) people will ask it less making the assumption that more For Sale signs equal a good time to sell.
One thing to consider is this:
More FOR SALE signs = More Supply
We are not exactly economists but we know enough that the supply of homes for sale will definitely have an impact on the amount of buyer interest, buyer traffic and the offer (or offers) that you ultimately receive.
So, with that theory, would there be a benefit to going up for sale in the ‘off times’ of the year? List Nov 25th? Or Feb 10th? Well, depending on what you’re selling, yes, you can be in a better position if you hit the market in the quieter months.
We are always asking clients to look at things through the eyes of the person on the other side of the table. So, if you’re looking to sell your home, put yourself in the shoes of the buyer that you are trying to reach.
If the buyer has 3 homes to choose from in November versus
22 homes to choose from in May, how will that affect the
activity and interest in your home?
Some factors to consider include the current days on market, pricing trends and overall apples-to-apples supply. There are loads of variables involved but if there is one thing you take away from this bLOG is that it isn’t simply a matter of one time of year being a good time to sell and the other being a bad time.
Having the guidance and market knowledge of a full time, professional Real Estate Team (nudge nudge, wink wink) will go a long way to make sure that your home is well positioned and ready to generate activity and the maximum value possible.
If you would like to meet for a chat regarding your home or the real estate market in general, let us know anytime. We would be happy to meet at your home or out for a coffee.
Thank-you for visiting.