With all the scattered real estate chatter some people think the best time to list and sell their home is during the Spring. Why? Because everyone else is doing it.
It’s true a lot of homes sell in the Spring but that’s because the more buyers are looking then. Does that mean you’ll get the best price selling your home in the Spring? Not necessarily.
The idea of selling when the most buyers are hunting sounds great in theory but if every other seller is thinking the same thing there’ll be a lot of competition. The more competition there is in any market contributes to lower prices. Wouldn’t it be better to sell when the buyer numbers are high and the competition is low? Yes!
A lot of buyers actually start their search earlier in the year, before spring. And if most sellers see the spring as the time to sell, listing earlier than the spring might have some advantages.
In addition to attempting to sell when there are more buyers and fewer sellers – there are more things to consider if you’re planning to sell..
You’ll get the best price for the sale of you home when inventory is low. Keep an eye on inventory levels and more importantly keep a close watch on inventory rates in your market. An inventory rate is determined using recent sales numbers compared to the number of homes on the market. Watching closely you can spot trends. Maybe sales are decreasing and more and more homes are hitting the market. This would hint toward the next 4 months being a terrible time to sell. If the opposite is happening you might spot a great time to sell.
Most people planning to sell their home do it blindly not considering market variables. Know the stats that impact your market and more importantly understand how they apply.
Blake King is a licensed Realtor® in Central Alberta who earnestly monitors and tracks local real estate stats, changes, trends and demonstrates how they impact the local market. To contact Blake to discuss the best time to buy or sell real estate call him anytime at (403) 350-7672 or email: firstname.lastname@example.org