There is no perfect time to list your home. We know that life is always happening, and schedules are busy. Selling a house is a commitment- and it can be emotional, time-consuming, and easy to put off.
However as we enter the spring season, we would be doing you a disservice if we didn’t tell you- the time to sell is now.
If you’re considering selling your home in the foreseeable future- don’t wait! If you are happy with your home, and could see yourself there for the next year, then you can relax. Take your time making your decision and get a head start for next year!
However, if you are weighing making a move soon, the Spring is go-time. Here’s why.
Why to List Your Home in the Spring
A faster sales process.
According to a study by Zillow, homes listed between mid-March and mid-April traditionally sold the fastest. Families want to finish out the school year before moving, but settle in before a new school year begins. That motivates the buying and selling timelines. Summer is a convenient time of flexibility.
Your home looks prettier.
Curb appeal is more, well, appealing during the warmer months. Your grass fills in, flowers are blooming, skies are blue and things just look prettier than when they are surrounded by dead leaves and clouds. The longer days also help by providing natural lighting for extended visiting hours.
List early to beat a competitive market.
The summer is likely going to present an increase in listings. Many will wait until the school year has concluded to start the process. Listing your home during the Spring gives you a head start and upper hand in a competitive market. Mitigate comparative competition and provide the opportunity that an eager buyer is looking for.
Higher sales premiums.
According to a new ATTOM Data Solutions analysis of 14.7 million home sales from 2011 to 2017, the best month to sell a home is May. Forbes shared that May reaps the biggest premiums above estimated market value, at 5.9% on average, compared to any other month. This may be due to some of the previously discussed factors- motivated buyers, increased aesthetic, etc. However, in order to make a sale in May, you’ll likely have needed to list your home in March or April.
Interest rates have decreased relatively.
Interest rates have not be great over the past few months. They reached a record high of 4.94%. However at the end of February 2019, they began to dip again to 4.35%. In our current market, a little relief is being provided as interest rates begin to decline. But no one is holding their breath anticipating that decline to continue. It is reasonable to expect interest rates to rise from here- so the time to act is now!
There’s likely not a perfect time to sell your home. But there are some context clues that can help you navigate a timeline for doing so. Engel and Volkers Real Estate Advisors are experts in the Baton Rouge market. We have our finger on the pulse of home sales in our community. Let us do the work for you. Contact us to make a plan that makes sense for your life and home!