Ready to Sell? How to Know when the Time is Right
Choosing the best time to sell a home can be a complex decision and may depend on multiple personal and economic factors.
Initially, the best time to sell is when you are ready, or when you must. When you have outgrown the space in your current home, or you prefer to trade down to something smaller, it may be a good time to sell. Other personal changes, such as a change in marital status or job, can necessitate a move.
Market conditions play a key role when timing a home sale. Your chances of getting top dollar for your home increase during a seller’s market, when demand outweighs supply, as opposed to a buyer’s market, when home prices typically lower. Local and national economic factors also may dictate the ideal time to sell. For instance, if a major employer in your area is laying off workers, it may not be a good time to put your home up for sale. People will be cautious about buying when the future seems volatile.
Seasonal conditions may also impact the best time to sell. Most agents agree the best time of year to sell is the spring. During this season, the largest number of potential buyers hit the market and your home is likely to sell faster and at a higher price. Generally, sales begin to pick up as early as February and start to taper in July.