Times are changing and you’re thinking about moving into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
Your home sale
Overpricing in real estate sales often comes from some popular pricing misconceptions including the following:
- We need to price our home with a certain amount of room to negotiate.
- If we wait longer, a higher offer will come.
- A quick offer means we priced our home too low.
- We just need the right buyer who will pay more.
- Zillow says my house is worth more.
You do not want to overprice your home when going to market as it can prove to be a very costly mistake!
The best season for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging when needed. With inventory being so low in the Porltand metro area, all seasons are a good time to sell!
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on the market for two days. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.