Seller’s often Ask: When Is It A Good Time To Sell?
There are several aspects of selling a home that make this a more complicated question than can be answered with a single answer. The complicating issue is, What is the seller’s motivation? Here are several types of motivations with a short answer to each”
- “I want to get the home sold quickly.” Then, the short answer is when demand is high. Combine that with a market with low inventory and you end up with a short selling time, or Days on Market. The average DOM in Frederick right now is 83 days, compared to 120 days at this time last year.
- “I want to get top dollar for my home.” Then, you need to not only list your home when demand is high and inventory is low, you need to make sure your home is in the best condition possible for the comparable homes on the market. (For a more thorough listing strategy, see my post: 4 Reasons You Home is NOT Selling
- “I need to do a short sale.” If you need to short sell your home, then the strategy for selling is entirely different than for a traditional sale. NOW is the time to list your home in the case of a short sale.
- “I want to get the most for my home, but I’m not in the position to do a lot of work on it.” In this case, you might be on the market for a while, or you might sell quickly, depending on a lot of factors, like other comparable homes on the market, the selling time in your neighborhood, and in your price range.
As you can see, the answers to this question are not so simple. There are a lot of factors that take place in any real estate market that make selling a home more than a simple equation. Consult a local real estate agent who knows the market and the trends in your neighborhood.
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