If you have to wait until springtime to list your home, there are a few tips you need to remember if you want to list at the most opportune time within the season.
Are you putting your home on the market this spring?
A lot of sellers believe that spring is the best time to sell their home, but because so many people think this, everyone puts their home on the market at the same time once spring actually does arrive, which creates a lot of competition.
As I’ve said before, the best time to put your home on the market is when inventory is low. Here in Charlotte, buyers are looking for homes year-round. The number of sales usually drops a little in November, December, and January, but the number of buyers in the market doesn’t.
If circumstances are forcing you to sell during springtime, though, I have a few tips to help you know the best time to list within that season.
First, look at the history of home sales in your area for the previous six months to a year. This means homes in your price range, zip code, subdivision, and any nearby new construction subdivisions. Look at the market’s absorption data to know how many homes sold versus how many didn’t at any given time.
With that in mind, look at when the market will be the least competitive. In new construction subdivisions, builders often offer promotions and price reductions for their spec homes, and you don’t want to compete against that kind of thing.
However, if you can find a way to list your home now in February or in early March, I recommend doing so. Inventory is low, as are interest rates. Not only will you deal with less competition, but you also won’t have to deal with any tire kickers.
As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.