Some good tips to help you figure when to sell your home
Cervone Deegan + Associates knows that deciding to sell your home can be a big task as you plan to make a large lifestyle change. However, sometimes figuring out exactly when to sell to obtain the best price can involve some further steps. The real estate market landscape changes every so often with local market nuances and of course the past couple of years don’t resemble typical patterns either. Here are some helpful tips if you are trying to figure out when to sell your home.
Contact a Real Estate Professional
Contact a local real estate agent like Cervone Deegan + Associates to review current local conditions. Even the type of property you own can play a role in the ideal time to sell. Only an experienced agent will have their finger on the pulse of current activity and provide the best advice.
Obtain a Market Analysis
Your real estate agent can furnish you with a market analysis. They can provide you with real time comparables in the market and also inform you on local trends like average days on market, list to sale price ratio and more. This data will help you identify what your home is worth and how quickly you can expect it to sell.
Identify Your Area’s Peak Selling Time
Every market has its peak times when things get busy with more listings and active buyers. Some locations are driven by schools, vacations and even the weather or season. There may be a prime time in your market to sell, but don’t worry if you can’t sell then.
Examine Interest Rate Trends
Current interest rates and trends are a good thing to examine as they drive buyer demand. Today’s mortgage rates are still very low so demand is strong and buyers can afford more. Lower rates essentially mean that you could get a higher price for your home especially if a competitive bidding war occurs.
Establish Selling Goals
Every seller has a different goal for selling their home. Some may be looking for the fastest sale possible while others may want to hold out for the highest price. Identifying your goals is helpful in terms of setting the price at as well as what work should be done before you list.
Decide Where You Want To Move
Consider the location and market that you are moving to and examine the market conditions of where you are selling as well as those of where you are buying. You will want to weigh out if you should find your next home first and then list your current home, or list and then search. You will most likely want to do the one that may be more challenging first but that can depend from market to market.