Purchasing a home is the single largest investment that an individual will make in their lifetime and that means there should be some significant amount of thought and planning involved. Becoming a homeowner is typically a dream-come-true for most people due to the time involved in saving, searching and finally purchasing a home that they love and can truly call their own. The process of buying a home is a complicated and involved process alone, but the focus of this informative piece is to look at the selling aspect of a homeowner’s journey.
Let’s fast forward and say that you are a homeowner but are looking for something new. Whether you started a family, decide to move closer to work or any other number of reasons, you decide to sell your home. There are several factors that now come into play in order to maximize the return on your investment. Choosing the right time to list your house is crucial to gain the most that you can in order to set yourself up for purchasing your next home. Before now, you may not have put in much thought as to when the best time to list your home but luckily for you, there has been a copious amount of research and analyzing done to answer this question.
When to Sell Your Home
You may have heard of the online company called Zillow, well according to a study of listings and closings, they found that best time to sell your home is between May 1st and May 15th. The study found that homes listed in this timeframe sold (on average) 18.5 days quicker than homes that weren’t. While that might now seem like a significant amount of time but a lot can happen in 3 weeks, especially in the housing market. The study also found that the homes sold for about 1 percent more than the average listing ($1,700). Again, this money may not seem like a huge deal but that could be a few car payments, a family vacation or money for some renovations/redecorating of your new home. Keep in mind that these figures are national, will vary and ultimately depend on a variety of factors within each specific market.
Spring shouldn’t be much of a surprise, especially for most of the country, because no one wants to drive around looking at homes when the weather is miserable and dreary. However, Phoenix and other temperate regions of the country don’t show as drastic of fluctuations in the housing market because the weather is great year round. While the weather may be an obvious reason, a more concrete underlying reason for why spring is typically the busiest home buying/selling season is because those homeowners with families are looking to relocate while the kids are out of school.
Looking at the housing market in Phoenix, the historical data points to the middle to late April being the best time to list your home for sale. This makes sense because April here in Phoenix is late spring, which coincides with the national season for home listings. Breaking it down even further, Saturday has shown to be the most promising day of the week to list a home.
Some of the benefits that come from trying to sell your home during the high season include:
- More sales mean better comparison of market prices
- More buyers in the market increase your chances of selling
- More competition means quicker offers and sometimes higher offers
If you have been considering listing your home on the market, the season is right around the corner. Let Jeff Barchi and his years of experience and expertise in the metro Phoenix market help you sell and find the home of your dreams. With a track record of success and satisfied clients, Jeff is second to none when it comes to capitalizing on the unique markets found in Phoenix, Scottsdale and Paradise Valley. Contact our real estate agent in Happy Valley Ranch to begin the process of selling your home today.