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Tuesday, January 17, 2017

How Can You Determine the Best Time to Sell?

Unfortunately, there isn’t a magic time to put your home on the market. Here’s how to find the best time to list your specific home. 

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Picking the best time to sell your home can be difficult. There isn’t a magic time frame to list your home, and here’s why.

The right time to sell your home depends on your price range. We determine those times using a market trend report, which you can see in the above video.

On the far left side of the report are the price ranges of homes in the area. We then have active listings for sale in the valley, new listings that came on that month, homes sold that month in each price range, the average sold-to-list price, the average sales price, the sales price/listing price ratio, the average days on the market, and months of inventory.
The best time to sell your home depends on your price range.
The months of inventory on the far right is a very important number. Six months or less of inventory is considered a seller’s market, whereas six months or more is considered a buyer’s market. We have used this report for the last several years, so it gives a really good indication of the best times to sell your home. 

So, depending on your price range, the winter may be the best time to sell your home or the summer may be the best, but it really depends. Many people take their homes off the market in the winter thinking there won’t be as many people actively looking. Although that may be true, inventory can come down in the winter, giving the buyers that are looking a lot fewer homes to choose from. 

If you are thinking about selling and would like to know more about the market trends report and when the best time to sell your home is, please reach out to me with a phone call or an email. I’m more than happy to help!