Of the many questions Realtors are asked, there’s none more common for a home seller then “when is a good time to sell?” Usually it’s met with “anytime is a good time to sell.” So are real estate agents being dishonest or is there a strategic time to sell? Joshua Jarvis, CEO and founder of The Jarvis Team Realty, says that there is a definitive time to sell, here’s his take.
List your home during the late-winter time, most preferably on February. Placing your home on the market during this time allows you to get ahead of the competition because most sellers believe that spring time is the best time to sell. This is a mistake that most home owners and real estate agents practice, especially this year when there was a dip in the market.
Moreover, being listed on winter makes your home available during the spring fever when home buyers start to look. This way, your property will have a higher possibility of going under contract during the late winter/early spring.
When you examine the statistics, what you find is a rise in sales (closings) during March and April. There is usually a “lead time” that it takes for a home to close, for example real estate in Atlanta, takes roughly 45 days to close. Given this, a closing in March would likely have started in January or February. As you look at the stats you’ll start to see a price increase in March but then a decrease as summer gets closer. What’s actually happening is that more inventory is hitting the real estate market and thus helping the market “equalize.”
If you are rushing to sell, there is a good time to sell such as before the holidays, when some buyers NEED a home. However, selling during the winter (right after Christmas) is a lot more strategic as it can help produce more money and sell at a shorter time.