Recently a couple who I represented many years ago told me they might be selling their local home and moving to a Colorado resort community. Their question was, “when is the best time of year to put our house on the market?”
If you’re ready to move, you have an incredible opportunity in front of you today. Our expert brokers at Kentwood Real Estate will help you determine when to list your home, but generally our top sales prices are seen between February and May every year.
Looking at the big picture, the opportunity you have as a seller today is unprecedented. Last year was a hot sellers’ market. This year, inventory is even lower, which means the opportunity to sell remains high. Finding your next home in a market with low inventory can be challenging, but is that a large enough concern to pass up some of the best conditions sellers have ever seen?
According to the National Association of Realtors, in February, the average home sold received 4.8 offers. When buyers are competing like this, they’ll do what they can to make their offer stand out. This could play to your favor and mean you’ll see fewer contingencies; more cash offers and offers over asking price. Selling when demand is high, and supply is low sets you up for a win.
If you’re also looking to buy a house, you may wonder if you’ll have trouble finding your next home. Remember that perspective is key. As Danielle Hale, Chief Economist at realtor.com, says:
“The limited number of homes for sale is a lesson in perspective. This same stat that frustrates would-be homebuyers also means that today’s home sellers enjoy more limited competition than last year’s home sellers.”
You have an incredible advantage when you sell your house under these conditions. Since buyer demand is so high at a time when seller listings are so low, there’s a good chance buyers will be competing for your house. An experienced broker can next help you navigate the purchase process.
Today, there are far more buyers looking for homes than sellers listing their houses. Connect with a Kentwood Real Estate Broker so you have expertise on your side to help you win when you sell and when you buy.