Friday, September 4, 2020 / by Jeff Lovato
Market circumstances influence the best time to list your house, including job growth, mortgage rates, tax incentives, seasonality, sellers market vs. buyers market, local job growth, and your readiness.
If your local job market is booming, it's a great time to sell your home, as there are likely job seekers or recent transplants eager for housing in your area.
For the last four years or so, mortgage rates have been historically low, but rates have started to rise lately, and most economists agree that rates will keep creeping up as the economy strengthens.
There are currently no significant federal tax incentives for first-time homebuyers. Potential sellers should keep track of local, county, and state financial news, as incentives and tax laws can make it easier for potential buyers to take the leap and become homeowners.
Although many people will tell you that the year's ideal time to sell your home is spring, that may not be true. The best answer to "When is the best time of the year to sell?" really depends on your home's location.
· The best month to sell depends on the market in which you're selling
· Winter buyers tend to be more serious and up against deadlines
· Fall sellers have less competition, and prices for repairs tend to be lower
· Summer brings lots of competition, but also families who need to move before school starts
Of course, seasonality isn't the only factor to keep in mind when deciding if it's the right time to sell your house. It's also important to consider the state of your local housing market.
Sellers Vs. Buyers Market
A buyers market occurs when the number of available properties for sale exceeds the number of people looking to buy. In a sellers market, there are more potential home buyers than there are available properties. A sellers market is the ideal time to sell your home, as you can expect it to sell more quickly, and you're more likely to receive multiple offers and sell for full price.
When it comes down to it, the best time to sell is the best time for you.
All kinds of personal factors can play into your decision to sell, from job changes to family changes to just generally feeling ready. Keep the following factors in mind.
- Lifestyle changes
- Emotional preparedness
- Financial benefits
As you can see, there are many factors to take into consideration when deciding to sell. Let us help guide you through this process. We use the latest technologies, market research to exceed your expectations. More importantly, we listen, and that means we find solutions that are tailored to you.