When it comes to selling your home, you want to make sure you list and sell at the right time. But the “right time” can vary from person to person. What might be the perfect time for your neighbor or friend to sell might be too early—or too late—for you.
So how, exactly, do you know the best time to sell for you? In a recent video, the team at Realtor.com explained five key factors to consider when determining the best time to sell, including:
- Getting ahead of the competition. While many home sellers think spring is the best time to sell, listing your home from December through March can help you get ahead of the competition—and help your home stand out to buyers.
- Your local market. Obviously, there are national trends in the real estate market that you want to pay attention to—but not all areas follow those national trends. Before you decide to list your home, make sure you dig deep into what’s going on with your local market and how those conditions might impact your home sale.
- Mortgage rate trends. When mortgage rates drop, more buyers hit the market. So keeping an eye on interest rates can help you anticipate when more people might be looking to buy, and you can use that information to determine the best time to sell.
- The condition of your home. Making minor repairs before you list your home can make a huge difference on how fast (and how profitably) you sell. So before you list your home, make sure to take stock of any potential issues and make any necessary repairs.
- Personal preparedness. The only person who can determine the best time to sell your home is YOU—so before you put your home on the market, make sure you’re ready and it’s an ideal time in your life for you to make a move.