WHEN SHOULD I SELL MY HOME?
This is one of the most commonly asked questions by home sellers. 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 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 marketing. If the weather has not cooperated with us on the day we planned to take photos and video, it is best to postpone rather than accept a less-than-great product.
- Thursday’s have traditionally been the day that new listings go on the market. The vast majority of homes are listed on Thursday and Friday. Listing your home earlier in the week works great too, so long as you provide buyers the opportunity to view over the weekend. Giving buyers the opportunity to view privately with their representative and a second or third time either with their Realtor or during an open house is important. The day of the week the home is listed has less importance, compared to the actual day your home goes live. Stick to your offer review date and give all buyers the opportunity they deserve to write and present their best offer.
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. Especially in Tacoma and the Pacific Northwest in general! 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.
Annual Real Estate trends are helpful and can assist in make accurate predictions that aid sellers decision making on when to list their home. There are also several indicators that Realtors use to gauge the competitiveness of the real estate market. 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
NICHE REAL ESTATE MARKET
Selling Luxury Property in Tacoma
Do you have a highly unique and/or expensive home? Does your home sale require a unique buyer; one with a high net worth or need for something unusual that your home has? If the answer is “yes” to either of these questions, it means that the timing of listing your home is ever more important. Our Pierce County Real Estate Market continues to be a very strong Seller Market. Which affords sellers of Luxury properties more flexibility as to when they want to sell their home. In general, the number of homes for sale is at it’s lowest January – early March making it the most ideal time to sell your luxury home.
Selling Standard homes in Tacoma
“Standard” may not be the right terminology. The importance of any home regardless of price, style or location carries the same importance to me. When selling a property that is closer to the median price of an area, (click here for a market update!) home sellers have more flexibility to list their home when they want without having to endure a longer than usual wait time to receive an offer on their property. The same rules apply when selling your home; when competition is low and demand is high, it is the best time to sell your home, assuming that your home is ready to sell!