When Is the Best Time to Sell a House? (It’s March!)January 12, 2022
Just about the time when the promise of spring flowers in bloom can be felt, something else will be popping up as well––For Sale signs. It’s well known in the real estate industry that spring is the hottest season for selling a house. In fact, agents call mid-March to mid-May the “magic window” for selling fast––as in 15% faster.
The magic window in the real estate market can also bring in about 2% more than the average listing. According to Zillow, nationwide, selling a house in the magic window puts an extra $4,300 in sellers’ pockets. In New Jersey, homes sold between May 1 – 15 added an extra $2,400 to the sale price and sold around 18.5 days faster than at any other time.
As home seller tips go, if you can hold off selling a house until the weather begins to turn toward spring, you’ll also be ensured greater curb appeal. Grass begins to green up and you can put the lawn or deck furniture back out. If you live in an area popular with young families, spring is appealing because these buyers prefer to move in the summertime after school is out.
Regional & Economic Considerations
While real estate agents do cite the “magic window,” it’s also well known that location (south vs. north, east vs. west), as well as the economic climate, also affect how fast a home sells and the final sale price. The current economy has clearly proven that! Sellers are finding themselves at the center of bidding wars that result in sale prices way over asking prices. Agents are finding their listings selling in a matter of days. And buyers are having to scramble to even schedule tours as homes get scooped up sometimes overnight.
Here again, you can find some great guidance on the internet about when the best time might be to sell your home. Zillow has actually drilled even deeper than the best month for selling. They’ve charted key factors such as day of the week and best week of the month to sell your home in various markets. Check it out … it’s eye-opening!
Tips to Encourage a Faster Sale
As we’ve mentioned, springtime is a great time to showcase your home for sale. But keep in mind that nice weather can’t cover up an unkempt exterior or an interior that hasn’t been properly staged. Nowhere is the phrase “first impressions count” more important than when you’re trying to sell your home!
Keep in mind that everyone’s decorating tastes are different. While you don’t want to whitewash your personality out of the place, it does help to remove the bulk of your personal touches (such as photos, diplomas, too many heirloom pieces, etc.) to allow buyers to imagine themselves living in your home.
Additionally, according to an article from Realtor.com, a spiffy mailbox can actually make a difference; after all, it’s the first thing people see when they drive up or reach the front door. Making sure the décor and furnishings in each room reflect how it’s used is also a great tip. A dining room should be furnished as a place to eat and entertain, not set up as a home office.
Sometimes it’s not easy to see what strangers see when they walk through your home. You’ve learned to live with cracked bathroom tiles, floor scuffs, and cabinets that don’t hang exactly plumb. But potential buyers notice these things. If you can’t cast a critical eye, have your real estate agent do a walk-through and make recommendations on what’s worth fixing and what’s not––and also give you tips on how to dress each room for showings.
4 other good tips to make your home more desirable to buyers:
1. Price to sell. Experts say even 10% under value is very attractive to potential buyers.
2. Spring for a pre-inspection. Even though your buyers will have their own inspection
done, giving them a good idea of what they’re in for is a big plus.
3. Show it off right. Offer plenty of professionally produced photos with your listing (and a video tour if possible). This isn’t the time for cell phone pictures!
4. Start downsizing now. If you’re planning to move to a senior living community like Monroe Village, prepping your current home to sell is a great time to begin the downsizing process. It will help reduce the number of furnishings and knickknacks, and give you a head start when it comes time to move.
Your Next Wonderful Home Is at Our Place
Beautiful, welcoming Monroe Village offers everything you’re looking for in a senior living community––just ask any of our residents! You’ll find an array of comfortable, spacious independent living options and enjoy a carefree lifestyle that’s as active or relaxing as you want it to be. And because we’re a Life Plan Community, you’ll have the security of knowing your senior healthcare needs will be met as they arise: with personal care, assisted living, memory care, skilled nursing, and rehabilitation, all on site . Give us a call today to arrange a tour.