If you’re getting ready to sell your home there is one question at the front of your mind, and it’s, “When do I list my home to make the most money?”
It’s a great question, one that a lot of people ask every year, and thankfully one that has a lot of useful information to back up the data. Ignoring all the complicated statistics and going with something easy to remember, you’re the best advice comes from Spencer Rascoff when he offered, “list after you fill in your bracket for the NCAA and before you see the first jacket for the PGA Nationals.”
To get into more detail, you’re looking at a couple of sweet spots in the year through these spots are going to be locationally dependent so what I say for Columbus GA won’t hold everywhere else in the country. Also, we are not talking about dynamic changes in price. At its best, you can expect a 5-10% change in price from listing your home on the worst day compared to the best day for any given year, and the market itself could shift half that much on its own without seasonal changes.
Your one big goal is to have your home available to people looking to move as soon as their children are out of school for the summer. Moving during the summer causes the least disruption on a family. Because of this, it is also the time of year when many companies, including the military, make the most moves. But there’s a catch. Everyone else knows that this is the best time to list their homes so there will be a large number of homes hitting the market at the same time so you will have high competition.
For that reason it’s a good idea to let the initial wave of homes come out and sit on the market for a moment, let things cool off, then come out with your home. Timing the market places your listing sometime between the end of May and July. The exact date though is going to be a moving target and won’t be the same each year.
So how do you know when to list your home if everyone has just read the same thing you have? They know the same as you that these three months is the golden opportunity. Won’t they change when they list and you’ll be back to compete with them the same as you are now? Not necessarily.
The trick has a Realtor who knows the market. By watching the numbers in the market, a Realtor can see what the inventory is for any given area and understand what the competition looks like to know if now is the ideal time to list. If a large number of houses hit the market, but there are few buyers then now is not the time. But if, for instance, last month, we had a zip code with two months inventory meaning it would sell out of homes in 2 months, it would be a perfect time to list your home.
If you have the time to play the market, then you can walk away from the table with extra cash. But if you need to sell now and not wait for the right time, then work with what you have, the difference in price won’t affect you as much as some would think.