WHEN SHOULD I SELL MY HOME?
This is one of the most commonly asked questions by home sellers and there isn’t an easy answer. But the most important factor to guide the date of when we list your home is – when your home is ready! I’ll provide you with market statistics to aid your decision making and show you Real Estate Trends, specific to your niche market. We’ll discuss economic trends and any risks and benefits to listing your home now vs. later. My role in this process is to equip you with information so you can make an informed, confident decision.
GENERAL GUIDELINES ON WHEN TO LIST YOUR HOME:
Outside of the home analysis, which includes a micro and macro look at the Real Estate Market, there are several rules of thumb to optimize your selling experience and attract as many qualified buyers as possible when we first list your home:
- Do not list before a holiday weekend. Buyers who are searching for a new home may be out of town. List after the holiday to avoid missing any opportunity.
- Optimizing photos and video. If the weather has not cooperated with us on the day we planned to do the photo and video shoot, it is best to postpone the photos rather than accept a less-than-great product.
- Thursday’s have traditionally been the day that new listings go on the market. It’s an optimal time to list because you can plan to leave for the weekend while your home is being shown and (hopefully) come back to a few offers. The day of the week has less importance as does the time period for exposure. If we listed your home in the beginning of the week, we might want to consider waiting to review offers until Saturday or Sunday evening; allowing buyers part of the weekend to view and consider writing an offer on your home.
ANNUAL REAL ESTATE TRENDS IN TACOMA
There are certain Real Estate Trends that the general public is aware of with regard to “when to sell”. For example, we know that in the spring and summer months, there are more homes on the market. We understand this annual trend to be true because families look to move during the summer months so not to disrupt schooling for their kids. The weather is optimal, the flowers are blooming and some sellers prefer to show their home this time of year. We also know that the number of homes that sell during the months of November and December are fewer (in general) because people are preoccupied with holiday festivities. NOTE: 2020 was a unique year all the way around! We did NOT see the traditional winter trends that we normally see.
Annual Real Estate trends are helpful and can help make accurate predictions that aid sellers decision making of when to list. There are also several indicators that Realtors use to gauge the competitiveness of the real estate market but keep in mind that most of these show past and not immediate market conditions. Number of homes for sale is a leading factor in how much interest a home seller gets when listing their home and this can change overnight. Here are a few statistics that are used to gauge the optimal time for a home seller to list their home
- Number of pending homes/number of homes for sale.
- Number of Days on the Market
- Median sale price