The number of homes sold each year is rising with over 6.29 million units sold in 2021. And if you’re thinking of adding to this number by selling your home, it’s important to know the best time to sell your house. Understanding the factors that influence the real estate market will help you avoid listing your home during downtime. Ultimately, this means you will sell your house faster, with less hassle. This guide will give you all the information you need for a successful sale.
Keep reading to learn the steps to take to determine your perfect time to sell.
Step One: Find Out If You Can List Your Home for Sale
Before you do anything, it is important to know whether or not you can list your home. If you are unsure about this, here are the two questions every homeowner should ask before selling their house: 1) Does my house qualify? 2) Do I have enough equity?
To find out if your house qualifies, you need to use the home’s value. It is best if you can find an appraisal that is less than 1 year old. Once you get this number, remember it for future reference. Next, do the necessary research to determine how much equity you have in your house. You can get a ballpark estimate by using an online home equity calculator. This number will come in handy later, but it is not necessary for this step.
If your home qualifies and you have enough equity to list it for sale, that means you can sell your house at any time of the year. However, that doesn’t mean every month is a good time to list your house. That leads us to the next section.
Step Two: How the Seasons Affect Your Home Sale
There are two seasons when it comes to selling your house: slow and fast.
The slow season begins in September and lasts until December. It is during this period that people think about buying a new home for the holidays, but they don’t have the time to search. This is also a busy time for real estate agents, who want to complete as many sales as possible before the year ends.
The fast season begins in January and lasts until May or June. The primary reason why this period is a good time to list your house is that people are now looking ahead to summer and the holidays.
There are also two seasons when it comes to the real estate market: slow and fast. These seasons can be difficult to predict, which means you will need to make a reasonable assumption about what is best for your house based on these factors:
- When did you buy your home?
- How long have you lived in your home?
- Are you in a hurry to close the sale?
You should also consider if your home is unique in any way. For example, if your house has just hit the market or is brand-new—this means it’s rare and buyers will be eager to purchase it. So by all means list your house during the slow season if this is the case.
Step Three: How Long will It Take to Sell Your House?
It’s important to know how long it will take you to sell your home before you list it on the market. If you are in a hurry, then it might be best to put your home on the market during the fast season. On average, real estate agents say it will take 60-90 days to sell a house.
So, what does this mean for you and your home? If the fast season is the best time to list your house, then this means you can expect to close in just over two months. This is about average, but again—it depends on the unique traits of your home.
Step Four: How to Know If It’s the Right Time for You
The best time to sell your house is when all of these factors are in line with what you want out of a home sale. This means when it will take about two months when the seasons are fast, and if you have enough equity—then it’s time to list your home on the market.
If you are on the fence about whether or not it’s time to sell, just think of this: It is never a bad time to list your home on the market. If you are ready, then that means the slow season isn’t all that slow for your house. You can learn more about choosing the right time to sell here.
Picking the Right Team
The next step is to make sure you pick the right real estate team. You can sign with any company but remember: some companies will sell your home for as low as 3%. That means they will pocket 97% of what your house sells for (yes, that is not a typo).
You can also list your home by yourself and save the commission. This will not be easy and it may take you months to sell your home. However, just remember: If you list with an agent, they will do all of the work—you will benefit from their expertise and access to a strong marketing plan.
How can You Tell If a Company Is Reputable?
You need to research their track record and see what people are saying about them online. If they have an A+ rating with the BBB, then that means they’re probably alright (yes, we know: The Better Business Bureau isn’t perfect). It’s also a good idea to see if the company has a strong online presence and a social media strategy.
How can You Tell if an Agent is Reputable?
Ask your friends, family members, neighbors, and co-workers for referrals. Every real estate agent should have the opportunity to offer you their client list contact information. This way you can speak with past clients and see what kind of experience you’re signing up for.
Best of Luck with the Next Steps
Now that you know the best time to sell your house, you can take the next step and find a real estate agent.
But don’t forget: it’s important to pick the best team for your needs. It’s also a good idea to know how long it will take you to close on your home. This way you can know what’s realistic and if you’re choosing the best time to sell.
If you found this article helpful, be sure to check out even more home buying tips on our blog!
Also read: Many Things to Think About Before Extending an Extra Storey to Your Home