When’s the Best Time to Sell a House in 2019?
Selling a house isn’t the easiest process. It involves plenty of hard work, time, lots of paperwork – and even sweat.
Timing also plays a very important role when it comes to selling your home.
Fortunately, the McAllen realtors at Equity Assets Realty have the experience, and understand all the nuances to make sure the home selling process is as smooth as possible for you. Below we have compiled a number of factors you’ll want to consider when deciding when to sell your home.
The Best Seasons
The warmers seasons tend to improve the speed and eagerness of buyers, especially during spring.
Another benefit of selling during spring, especially around April, is that many buyers have extra funds because of their tax returns and are thus able to afford some of the additional costs that go into purchasing a new home.
Additionally, the warmer weather allows for easier moving conditions. If timed accordingly, the buyer will also be able to take advantage of summer vacation. This will allow the buyer the opportunity to place their child in a new school before school starts up again.
With that being said, the best time to list your home is between the end of spring and mid-summer. According to Zillow, houses sold during the first two weeks of May, especially on Saturdays, sell almost two weeks faster than average and for up to $2,500 more in comparison to the national average.
The Best Market Time
Another factor to take into account when considering to sell your home is the local market and job growth. If job growth is low, there won’t be as many potential buyers. Naturally, if there’s an abundance of jobs, people are likely to be flowing into your city, which can potentially increase the value of your home.
When it comes to the housing market, there are two trends to be aware of:
- Buyer’s Market
- Seller’s Market
A buyer’s market happens when there are more houses for sale than there are buyers. This means you’ll find more eager sellers (a.k.a. competition). In this market environment, you might find yourself being forced to sell at a lower price and/or making additional concessions with the buyer.
This market environment can be identified by the low amount of houses for sale and a great inflow of buyers. You can sell your house at a higher price since there are fewer options and a greater demand – and it will sell faster.
The Best Time for You
It’s important to recognize that selling your house doesn’t happen from one day to the next. Decide when you want to close a deal and then count backward to get your start date.
Then you’ll need a realty agent. The agent will need to gather information about your house including the number of rooms, bathrooms, dimensions, as well as check to see if there are any upgrades needed. Next, they will need to take pictures of the house to stage it – some realtors may even take video. This portion of the selling process usually doesn’t take more than a week.
With the pictures and information, your agent will place your house in different listing services for potential buyers to find.
Then comes the waiting game. According to data from Realtor.com, during the months of April and May in 2018, properties lasted an average of 55 and 59 days. After that, it can take 50 days to close on the sale.
Some additional factors which can impact the amount of time it takes to sell your house include:
- Lifestyle changes: If you’re moving because of a job, you’ll want to ensure you are following a strict timeline in order to have everything settled before you start your new job. Or if you have children and you want them to enter a certain school in a different school district, you will need to have everything done before school starts. Just take into consideration your lifestyle expectations.
- Emotional preparedness: Your house was your home; it’s important to make sure you are emotionally prepared to leave it behind.
- Financial benefits: Being able to sell for a higher price will help you put down a healthy down payment on a new home. Be aware that sometimes opportunities arise and it’s your decision whether or not to take them. Always think through the pros and cons.
- Finding an agent: It is important to take your time finding an experienced realty agent you can trust and feel comfortable with. You will be communicating with this agent for a meaningful amount of time and a healthy relationship is going to be important. Finding experienced agents like the McAllen realtors at Equity Assets Realty is important to making the sale.
- Repairs and upgrades: The house inspection may reveal problems and issues that will need repairing. These upgrades can take a while and the house won’t be sold until they are done. You may also want to make some upgrades on the house to increase its value.