When is the best time to sell my house?
It’s a familiar question for real estate agents, whether it comes from prospective clients, your brother-in-law, a friend of a friend or a complete stranger who discovers what you do for a living.
The fact is, once someone knows you’re a real estate agent, you’ll be asked for advice in no time.
And yet, getting the When is the best time to sell my house? question is akin to being asked, How’s the market?
Experienced agents know there are a lot of onion layers to those questions.
When is the best time to sell my house?
Well, you say, it depends on what you want out of selling your home. Are you looking to get the highest price? Or are you looking for the quickest sale?
There’s no doubt your market knowledge and real estate experience gives you a fair idea of how to answer the question. But tools such as InfoSparks can help you provide the When is the best time to sell my house? questioner with a completely customized answer based on their type of home, neighborhood, local market and more.
Here’s how InfoSparks can help you quickly and knowledgeably answer that question with minimal effort.
When is the best time to sell my house … for the highest price?
In this example, my clients in the Twin Cities Region want to sell their previously owned, single-family property for the highest price. With InfoSparks, I can select:
- ‘Single Family’ Property Type
- ‘Previously Owned’ Construction Type
- ‘Traditional’ Seller Type
Then, by searching monthly activity going back five years (4) and searching by Median Sales Price (5), I discover that the highest Median Sales Price in each of the last five years typically came in June.
So my answer — also knowing how long the closing process takes in my market— would be:
“Sellers in this neighborhood who close on the sale of their home in June have typically received the highest Median Sales Price during the last five years. Since it usually takes 30-60 days for a home to close once it’s put on the market, I would recommend listing your home in April or May.”
When is the best time to sell my house … quickly?
In this example, another set of clients in a similar home (previously owned, single-family) in the same Twins Cities neighborhood aren’t looking for the best price. Instead, they need to get out quickly and move across the country after one of the owners was forced to relocate for their job.
Selecting the same metrics in the previous example — only this time sorting by Average Days on Market (highlighted) — I discover homes that closed in July during the last five years have historically had the fewest Days on Market.
And, because I changed the view from ‘Monthly’ to ‘Rolling 12 Months’ (highlighted), I know that the Average Days on Market in this neighborhood is trending downward. Therefore, my clients can reasonably expect to sell their home quicker than the July 2019 sellers whose listings averaged 45 Days on Market.
So, my answer would be:
“Sellers in this neighborhood who have closed on the sale of their home in July have typically had their home on the market for the shortest amount of time, with last year’s Average Days on Market being 45 days in July. However, that metric is trending downward overall, so you could reasonably expect to sell your home even quicker.”
Remember: These are only examples. Markets vary, and no one knows their market as well as experience real estate agents.
InfoSparks can help answer a lot of questions, but it’s not about giving an end-all, be-all answer. Instead, it gives you information to help support your own experience and knowledge.
Do you have the market statistics you need at your fingertips?
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*MLSs and associations subscribe to MarketStats by ShowingTime to provide ready-made statistical tools for members. MarketStats is currently sold only to MLSs or associations.