When is the best time to sell your home?
This question was recently asked by a viewer of my video blog named Neil who benefited from my home selling advice earlier in 2019. Neil was preparing his home for the market, but he was flexible in terms of when to list it. When he sought my advice, I ran the numbers and figured out that the best time to put his property on the market was in February. Inventory would be low and I foresaw more competition hitting the market and prices dropping after February was over.
When Neil did list his home, it generated multiple offers and he got a great deal. Afterward, prices declined, more homes hit the market, and inventory increased—just as I predicted. A lot of people would’ve assumed in this case that it would be better to wait until spring to list, but that wouldn’t have done anybody any good.
February might not be the best time to put your home on the market, but if you list during the winter months, you know that buyers are serious. Nobody looks at properties in freezing weather just for decorating ideas.
Before you decide what’s best, it’s important to know your type of home’s recent sale history—look at the days on market, the level of inventory, and the selling history of your neighborhood in general. If you look at the statistics at 4:21 in the video above, you’d be surprised at how many sales are spread throughout the year.
Another factor to consider before deciding when to list is life changes. We real estate agents are agents of change, and we understand that life happens. People are born; people die. Marriages begin and end. Job situations change. When one of these life changes take place, that could be your best time to move. It’s important that you’re ready to change, as well. If you’re not ready to make a move and are overly attached to your home, buyers will know, and you’ll probably sabotage your sale.
If you’re still in the early stages of planning your sale, please give me a call. I’ve seen many people overdevelop their homes and spend too much money preparing it for the market. Then, once they did list it, they had to chase down the market and ended up losing whatever investment they put into the home. If you schedule a consultation with me, I can advise you on what you should and shouldn’t do to prepare your home for the market.
Additionally, we’ve just launched a new home selling program that removes a lot of the hassle of selling a home that we’d love to share with you. To learn all about it, visit guaranteedsales.ca.
If you have any more questions about when to sell your home, feel free to reach out to me. I’d love to speak with you.