THERE are two conditions that can determine the best time to sell your house. The first condition is during a “seller’s market” and the second condition is seasonal. A seller’s market occurs when there are more buyers actively looking to purchase, and there’s a low inventory of homes listed for sale on the market. The increase of buyers on the market typically occurs when the finance rates for home loans are low.
We are currently in a seller’s market based on the current housing market conditions. What we’ve actually been experiencing in Southern California’s current real estate market are buyer offers above the list price.
The second condition for the best time to sell is seasonal. Historically, there are more buyers in the market starting in the Spring season of the year and throughout the Summer months. Family relocations and job relocations usually happen towards the end of the school year while the kids are out of school. Additionally, people tend to visit open houses more during the warmer months. If you track the market, or your neighborhood, you’ll see an increase of homes for sale during this time of the year.
During the fall and winter seasons, there are fewer buyers in the market. There are multiple reasons for the slowdown during this time of the year. Buyers are less active in visiting open houses due to the colder weather and buyers are less likely to make large purchases due to the upcoming holidays when their household holiday spending increases.
Should I wait until the spring or summer?
If you’re planning to sell your home, but you don’t need to sell immediately and you would like to increase the value of your home, you can take advantage of the winter months to make necessary repairs or renovations on your property. Then once spring nears, you’ll be more than ready to list it on the market at a higher value.
If time is a factor and you need to sell immediately with urgency, don’t wait until the Spring season. There are still buyers looking and ready to purchase at any time throughout the year, regardless of the season. You can also take advantage of being one of few homes listed during the Winter season. You can always test out the market by listing it and assess buyer’s feedback: How many are ready to make an offer? Is your asking price too high or low? Are buyers looking for certain renovations, i.e. kitchen upgrades, bathrooms? If buyer offers are less than expected, you can remove it from the market and wait to relist it again after reassessing it.
Do you need to renovate? If you do need to make renovations, upgrades, or repairs, to be able to list it at the highest market value, I offer a service and concierge program that will cover the costs of the required renovations and make your property ready to sell. This will decrease your initial out-of-pocket expenses and help you get the highest and best offers.
What is your goal?
When you need to sell your property, always ask yourself— what is your goal? Do you need to relocate immediately? Do you need the money from the equity? Is it time to purchase a larger home? Do you need to downsize? Is it time to move on? Is it time to finally retire? There are things in life that can’t be bought or replenished, and that’s time.
Life’s Short, Love Where You Live.
Call / Text 213-608-5837 for a complimentary initial consultation, property value assessment, or questions for Selling, Buying, or Investing in real estate. Connect with me @jasonarealtor on Facebook, Instagram, and LinkedIn.
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JASON AGCAOILI, REALTOR | Ca DRE #01947185
JASONAREALTOR.com | HomeSmart Realty Group. Your Realtor for the Los Angeles Metropolitan, South Bay, Beach Cities, and Long Beach. | Member – California Association of Realtors and the South Bay Association of Realtors |Member – Coalition of Filipino American Chambers of Commerce