Ahhh… selling your home. When is the best time to reach the most prospective buyers in YOUR market? And when will it be the easiest on you? In our latest post, we will help you figure out when it’s the best time to sell your house!
The Best Time to Sell Your Home in Detroit
Is there a particular season that is better than the others?
They always say people are buying in the spring and summer. School is out, relocating becomes more tangible and the weather is conducive for going house hunting. Statistics show more people are buying when it’s warm, so you will likely have a larger pool of prospective buyers! Start with spring cleaning to prep your home and get ready to list it in sometime between April and August!
Are you ready to sell?
You need to first ask yourself if you are financially ready to sell. If so, then right now may be the best time to sell your property. There are costs associated with selling your home such as repairs, clean-up and making it look nice. Do you need to move by a certain date? Or be able to get another mortgage for a new house? If so, this can add pressure which can stress you out and sometimes make you sell for less than you were planning on.
Are you and your family emotionally ready? If the move isn’t necessary, make sure it’s really the best time to go. Are your kids almost out of school? Are you certain you want to leave your friends, job and community? Make sure you are making the right choice before making such an impactful decision for your family.
What the stats say:
Nationwide, homes listed between May 1 and May 15 sold around nine days faster and for nearly 1% more than the average listing, according to Zillow. (Your real estate agent may have different advice based on local market trends.)
As far as the day of the week, listing on a Saturday is favorable as that is when most people have the time to sit down and peruse listings. And since listings often appear with the newest ones first, getting yours at the top of the list will help you to get more views. Listing on a Friday is the 2nd best way to go statistically!
In some parts of the country, houses are selling 1-3% higher in the month of May. Do your homework and research annual housing trends for your particular neighborhood! If you have questions, Detroit Fair Offer is happy to help you review historical trends!
Being Different Can Be Beneficial
While summer is preferred by many people, there is something to be said about not doing what everyone else is doing. Selling in the offseason can have its perks as well. Your pool of buyers might be smaller, but the pool of available homes will be as well. This is your chance to make your home stand out from the one across the street. Less competition on the market, might mean a bigger reward for you!