By: Michele Corral
Knowing the best time to place your home on the market can be difficult to discern. For years, experts have told us that late Spring is the best time. Does that mean listing my home in mid-late Summer will condemn me to months of showings before I’ll receive an offer and get my home sold?
Let’s look at some research about the current market.
How Long are Homes Sitting on the Market?
This chart shows that over the last 5 years, the trend is that Average Days on Market (yellow) drops drastically in the summer through June-July. In 2015, the quick shift from Active to Under Contract continued from May-August. This year the Days on Market is average lower already with May and June numbers. If you’re still considering listing your home this year, the sooner the property is available, numbers show that it is less likely to sit on the market for an extended time.
For June, the average numbers of days on the market for a home dropped to 23!
Will I Get Less Money if I List My Home Now?
Research in the chart (red) shows us that while the Median Sales Price does fluctuate, there is not a specific month that trends over time to net a Seller more. There is a slight jump occurring in most summer months, but it will not necessarily affect your home. The best ways to get the most money for your home are:
- Curb Appeal
- Clean Interior Appearance
- Address Home Maintenance Issues
- Staging and Organization
As a Realtor, I walk through homes with clients regularly and know what common areas and issues attract and deter a wide range of buyers, causing them to write a higher or lower offer. I always recommend that Sellers use a qualified real estate professional to walk through their home with honest insight to prepare you for what Buyers in your market are commonly looking for.
What’s My Competition?
In the current Oklahoma City market, we have the lowest inventory of active homes on the market that we have seen in the last 5 years. This is excellent news for Sellers. There is less competition and motivated buyers will be more likely to see your home and have the chance to fall in love with it!
Less competition gives motivated buyers more chance to see your home and fall in love Now!
If you are ready to put your home on the market, call Crossland Real Estate today and we would be delighted to share a marketing plan for your home!
Tags: august, july, june, realtor, sell my home, summer house sell