16 Mar When is the best time to list your property?
The title of this blog post is a question I get asked a lot. It’s a hard question to answer because the seller’s current life situation is the most important aspect when deciding when to sell, but assuming all things are equal it comes down to 3 factors:
#1: Time of year. December and January are the two slowest months of the year for real estate, followed by July and August. Other than those 4 months, the other 8 months are pretty similar, and there is nothing that proves you get more money in one month over the other. Many of you are aware that most transactions occur during the springtime, and a lot of that is driven by Realtors convincing their clients to sell during the hot “spring market” – but there is no data to show that prices are any higher during this period.
#2: Weather. If you get a warm couple of weeks in February or March, you could be laughing. Nothing puts people in a buying mood like sunshine! I’m not kidding, there is actually data to back this up.
#3: Recent sales in your building/neighbourhood. If a property similar to yours just sold for a massive number, it’s a great time to piggyback on that property and take advantage. Similar logic applies if nothing similar to your property has sold in a long time. People will get excited about something coming to market (especially if it shows well), and you can get a better number. I figure it’s the same as dating apps. Imagine if you haven’t come across a good looking person in awhile, all of a sudden the 6’s become 9’s…it works the same way for properties. Wow, the things you learn in this newsletter!
If you’re looking to list, or have any questions about the current market situation and how it could effect your plans to sell, send me an email at firstname.lastname@example.org!